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(Z0) Finds Support

GILT TECHS
  • RES 4: 137.04 High Sep 21 and a key resistance
  • RES 3: 136.60 High Sep 30 and the near-term bull trigger
  • RES 2: 136.28 61.88% retracement of the Sep 21 - Oct 7 sell-off
  • RES 1: 136.26 High Oct 14
  • PRICE: 136.07 @ Close Oct 14
  • SUP 1: 135.50 Low Oct 14
  • 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 again yesterday, extending this week's recovery. Futures have cleared the resistance zone highlighted by the 20- and 50-day EMAs strengthening the short-term bullish outlook. Further gains would open 136.28, a Fibonacci retracement and 136.60, the Sep 30 high. On the downside, initial firm support lies at 135.50, Oct 14 low ahead of the key level that has been defined at 135.06, Oct 7 low.

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