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(U0) Resumes Its Uptrend

GILT TECHS
  • RES 4: 139.70 Low Mar 3 (cont)
  • RES 3: 139.05 High Mar 12 (cont)
  • RES 2: 138.84 1.236 projection of Jun 19 - 25 rally from Jul 1 low
  • RES 1: 138.51 High Jul 28
  • PRICE: 138.39 @ Close Jul 28
  • SUP 1: 137.85/82 20-day EMA / Low Jul 24
  • SUP 2: 137.51 Low Jul 22
  • SUP 3: 137.36 Low Jul 15
  • SUP 4: 137.25 Low Jul 13 and key near-term support

Gilts futures have resumed the uptrend registering a fresh high print
yesterday of 138.51 above 138.46, the Jul 24 high. This negates recent
bearish candle patterns that alluded to a potential top. Instead, with the
uptrend extending, the break higher opens 138.84 next, a Fibonacci
projection. On the downside, support has been defined at 137.82, Jul 24
low. A breach of this level would dent current bullish sentiment.

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