(U1) Shy of Bull Trigger

• 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: 130.28 @ 16:54 BST Aug 03
• SUP 1: 129.10 Low Jul 22
• 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 saw decent strength ahead of the London close, but rallies stopped short of testing the bull trigger at 130.48. This cements the bullish condition that's dominated since the break of 129.92, Jul 8 high. The move above this level confirmed 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, the Jul 21 close highlights a 3-day evening star candle reversal pattern, a concern for bulls. Watch support at 128.54, low Jul 14.