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(Z0) Focus Is On The Next Retracement Level

  • RES 4: 137-51 High Aug 6
  • RES 3: 137.31 High Aug 10
  • RES 2: 137.05 76.4% retracement of the Aug 4 - 28 decline
  • RES 1: 136.86 High Sep 17
  • PRICE: 136.61 @ Close Sep 17
  • SUP 1: 135.93 Low Sep 17
  • SUP 2: 135.70 Low Sep 10 and key near-term support
  • SUP 3: 135.31 Low Sep 7
  • SUP 4: 134.32 Low Aug 28 and major support

Gilts traded higher yesterday registering a print above 136.86, Sep 14 high before finding some resistance. The outlook remains bullish. Attention is on further gains with the focus on 137.05, a Fibonacci retracement. On the downside, key near-term support is at 135.70 Sep 10 low and weakness below this level would instead highlight a potential bearish threat. Strong initial support has been defined at 135.93, yesterday's low.

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