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Free Access(Z0) Heavy As Bears Maintain Pressure
- RES 4: 137.11 High Aug 11
- RES 3: 136.43 High Aug 24 and key resistance
- RES 2: 136.11 High Aug 25
- RES 1: 135.60 High Aug 27
- PRICE: 134.69 @ Close Aug 27
- SUP 1: 134.59 Low Aug 27
- SUP 2: 134.15 1.000 proj of the Aug 4 - 13 sell-off from Aug 24 high
- SUP 3: 134.00 Round number support
- SUP 4: 133.60 1.236 proj of the Aug 4 - 13 sell-off from Aug 24 high
Gilts futures traded sharply lower again yesterday and the contract maintains a strong bearish theme following this week's confirmation of a resumption of the downtrend that started early August. Conditions suggest further downside is likely. A number of Fibonacci projections have already been achieved this week, the focus is on 134.15 next. Yesterday's high of 135.60 marks resistance.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.