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(U9) Continuing to March Higher *RES.....>

GILT TECHS
GILT TECHS: (U9) Continuing to March Higher
*RES 4: 131.53 High Sep 7, 2016 on continuation charts
*RES 3: 131.22 Channel top U9 from May 23 low
*RES 2: 131.08 High May 31 (continuation)
*RES 1: 130.75 U9 Bollinger band 2% top
*PRICE: 130.49 @ Close June 5
*SUP 1: 129.68 Projected channel base from May 21
*SUP 2: 129.52 Low June 4
*SUP 3: 128.58 21-dma
*SUP 4: 127.62 55-dma
U9 Gilt futures hit a fresh contract high at 130.51 closing just below this
level. Risks remain tilted to the upside, despite overbought readings on daily
studies. Focus is on the daily Bollinger band top at 130.75 before we can
approach the 131.08 high seen on the continuation chart at the end of May. The
medium-term outlook remains constructive whilst above 129.68 channel. Bears look
to close below this level to at least move to a more neutral outlook.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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