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- RES 4: 95.82 High Aug 10 and key short-term resistance
- RES 3: 93.76 20-day EMA
- RES 2: 93.05/93.70 High Aug 16 / Low Aug 4
- RES 1: 92.29 High Aug 18
- PRICE: 91.46 @ Close Aug 21
- SUP 1: 91.19 Low Aug 17
- SUP 2: 90.70 1.236 proj of the Jul 19 - Aug 4 - Aug 10 price swing
- SUP 3: 90.38 Low Oct 12 2022 (cont) and a major support
- SUP 4: 90.10 1.382 proj of the Jul 19 - Aug 4 - Aug 10 price swing
A bearish theme in Gilt futures remains intact. The contract traded lower last week, clearing support at 92.09, the Jul 7 low. This represents an important break and confirms a resumption of the medium-term downtrend. Scope is seen for a move towards the major support at 90.38, the Oct 12, 2022 low on the continuation chart. On the upside, initial firm resistance is at 93.05, the Aug 16 high.
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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.