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(U4) Impulsive Bear Cycle

GILT TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
  • RES 4: 98.25 High May
  • RES 3: 98.12 High May 17
  • RES 2: 97.44 High May 23 and a key near-term hurdle
  • RES 1: 96.43 High May 29
  • PRICE: 95.79 @ Close May 30
  • SUP 1: 95.33 Low May 29
  • SUP 2: 95.17 2.382 proj of the May 16 - 20- 21 price swing
  • SUP 3: 95.02 2.50 proj of the May 16 - 20- 21 price swing
  • SUP 4: 94.87 2.618 proj of the May 16 - 20- 21 price swing

Gilt futures traded sharply lower Wednesday as the contract extended the reversal that started May 16. The sell-off resulted in a break of support around 95.87, the May 1 low. The clear break strengthens a bearish theme and signals scope for an extension towards 95.17 next, a Fibonacci projection. Initial firm resistance to watch is 97.44, the May 23 high. First resistance is Wednesday’s high of 96.43.

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  • RES 4: 98.25 High May
  • RES 3: 98.12 High May 17
  • RES 2: 97.44 High May 23 and a key near-term hurdle
  • RES 1: 96.43 High May 29
  • PRICE: 95.79 @ Close May 30
  • SUP 1: 95.33 Low May 29
  • SUP 2: 95.17 2.382 proj of the May 16 - 20- 21 price swing
  • SUP 3: 95.02 2.50 proj of the May 16 - 20- 21 price swing
  • SUP 4: 94.87 2.618 proj of the May 16 - 20- 21 price swing

Gilt futures traded sharply lower Wednesday as the contract extended the reversal that started May 16. The sell-off resulted in a break of support around 95.87, the May 1 low. The clear break strengthens a bearish theme and signals scope for an extension towards 95.17 next, a Fibonacci projection. Initial firm resistance to watch is 97.44, the May 23 high. First resistance is Wednesday’s high of 96.43.