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(Z0) Finds Support

GILT TECHS
  • RES 4: 136.60 High Sep 30 and the near-term bull trigger
  • RES 3: 136.28 61.88% retracement of the Sep 21 - Oct 7 sell-off
  • RES 2: 136.19 High Oct 1 and key near-term resistance
  • RES 1: 135.99 High Oct 13
  • PRICE: 135.91 @ Close Oct 13
  • SUP 1: 135.29 Low Oct 9
  • SUP 2: 135.06 Low Oct 7 and the bear trigger
  • SUP 3: 134.96 76.4% retracement of the Aug 28 - Sep 28 rally
  • SUP 4: 134.59 Low Sep 1

Gilts futures managed to trade higher yesterday, reversing part of the recent strong downtrend. Futures yesterday also cleared 135.82, the 20-day EMA highlighting potential for a stronger bounce. Further gains would open 136.19, Oct 2 high and 136.28, a Fibonacci retracement. On the downside, initial firm support lies at 135.29, Oct 9 low ahead of the key level that has been defined at 135.08, Oct 7 low.

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