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GILT TECHS
GILT TECHS: (U9) Risks Further Correction Lower As 13-Day Channel Eroded
*RES 4: 131.53 High Sep 7, 2016 on continuation charts
*RES 3: 131.08 High May 31 (continuation)
*RES 2: 131.03 U9 Bollinger band 2% top
*RES 1: 130.67 High June 7
*PRICE: 130.34 @ Close June 10
*SUP 1: 130.09 Low June 7
*SUP 2: 129.52 Low June 4
*SUP 3: 128.91 21-dma
*SUP 4: 127.71 55-dma
U9 Gilt futures risks further correction lower as the rising 13-day channel and
also the 5-day moving average both been eroded. In addition, bear-divergence on
10-day momentum also playing out and adds to the corrective tone. Support is at
130.09 ahead of 129.52. Initial resistance is at 130.67 ahead of Bollinger band
top at 131.03.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com