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GILT TECHS
GILT TECHS: (U9) Consolidation dominant for now
*RES 4: 131.53 High Sep 7, 2016 on continuation charts
*RES 3: 131.08 High May 31 (continuation)
*RES 2: 131.00 Round number resistance
*RES 1: 130.95 U9 contract high June 25
*PRICE: 130.30 @ Close June 28
*SUP 1: 129.98 Low Jun 19
*SUP 2: 129.80 Low June 12 and key support
*SUP 3: 129.52 Low Jun 4
*SUP 4: 129.03 50-day EMA
U9 Gilt remains in uptrend, although for now it continues to trade within its
consolidative range. Last Tuesday's contract high of 130.95 marks key
resistance. A clear break would not only confirm a resumption of the uptrend, it
would also signal an end to the consolidation that has dominated since Jun 7,
opening 131.00 and beyond. On the downside, initial support to watch lies at
129.98, the Jun 19 low, ahead of second support at 129.80.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com