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(U3) Clears Support

GILT TECHS
  • RES 4: 97.64 High Jun 1 and the reversal trigger
  • RES 3: 96.63/97.06 High Jun 9 / 6
  • RES 2: 96.31 High Jun 12
  • RES 1: 95.36 High Jun 16 and key near-term resistance
  • PRICE: 93.95 @ Close Jun 19
  • SUP 1: 93.91 Low Jun 20
  • SUP 2: 93.45 1.618 proj of the Feb 2 - 28 - Mar 20 price swing (cont)
  • SUP 3: 93.00 Round number support
  • SUP 4: 92.66 Low Oct 14 2022 (cont)

Gilt futures remain bearish and last week’s move lower reinforces current conditions. Yesterday’s bearish start to the week has confirmed a resumption of the downtrend. The contract has breached support at 94.21, the May 26 low and bear trigger. A continuation lower would open 93.45, a Fibonacci projection. Moving average studies are in a bear mode position reflecting current sentiment. Initial firm resistance is at 95.36, the Jun 16 high.

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