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Impulsive Rally Extends

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Price Is Below The 50-Day EMA

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(U2) Trades Through Key Short-Term Resistance

GILT TECHS
  • RES 4: 118.63 High May 24
  • RES 3: 118.16 1.382 proj of the Jun 16 - 24- 29 price swing
  • RES 2: 117.48 1.236 proj of the Jun 16 - 24- 29 price swing
  • RES 1: 117.09 High Jul 6 and the bull trigger
  • PRICE: 117.27 @ Close Jul 22
  • SUP 1: 115.24 20-day EMA
  • SUP 2: 114.08/113.03 Low Jul 8 / Low Jun 30
  • SUP 3: 111.72 Low Jun 29 and key near-term support
  • SUP 4: 110.57 Low Jun 21

The short-term outlook in Gilt futures remains bullish and last week’s gains confirmed a resumption of the current uptrend - Friday’s gains resulted in a break of 117.09, the Jul 6 high. This maintains the bullish price sequence of higher highs and higher lows and paves the way for a climb towards 118.16 next, a Fibonacci projection. On the downside, key short-term support has been defined at 114.08, the Jul 8 low.

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  • RES 4: 118.63 High May 24
  • RES 3: 118.16 1.382 proj of the Jun 16 - 24- 29 price swing
  • RES 2: 117.48 1.236 proj of the Jun 16 - 24- 29 price swing
  • RES 1: 117.09 High Jul 6 and the bull trigger
  • PRICE: 117.27 @ Close Jul 22
  • SUP 1: 115.24 20-day EMA
  • SUP 2: 114.08/113.03 Low Jul 8 / Low Jun 30
  • SUP 3: 111.72 Low Jun 29 and key near-term support
  • SUP 4: 110.57 Low Jun 21

The short-term outlook in Gilt futures remains bullish and last week’s gains confirmed a resumption of the current uptrend - Friday’s gains resulted in a break of 117.09, the Jul 6 high. This maintains the bullish price sequence of higher highs and higher lows and paves the way for a climb towards 118.16 next, a Fibonacci projection. On the downside, key short-term support has been defined at 114.08, the Jul 8 low.