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(U1) Evening Star Reversal?

GILT TECHS
  • RES 4: 131.37 38.2% retracement of the Aug '20 - Jun sell-off
  • RES 3: 130.72 2.236 proj of the May 13 - 26 - Jun 3 price swing
  • RES 2: 130.62 High Feb 22 (cont)
  • RES 1: 130.48 High Jul 20 and the bull trigger
  • PRICE: 129.37 @ Close Jul 21
  • SUP 1: 129.19 Low Jul 19
  • SUP 2: 128.54/39 Low Jul 14 / High Jun 11 and recent breakout level
  • SUP 3: 128.03 Jul 6
  • SUP 4: 127.25 Low Jun 10

Gilt futures are below recent highs. A bullish trend condition remains intact following this week's gains and break of resistance at 129.92, Jul 8 high. The break confirms a resumption of the uptrend from mid-May and maintains a bullish price sequence of higher highs and higher lows. The focus is on 130.62, Feb 22 high (cont). Note, yesterday's close highlights an evening star candle pattern, a concern for bulls. Watch support at 128.54, low Jul 14.

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