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- RES 4: 136.43 High Aug 24 and key resistance
- RES 3: 135.98 20-day EMA
- RES 2: 135.60 High Aug 27
- RES 1: 135.09 High Aug 28
- PRICE: 135.01 @ Close Aug 28
- SUP 1: 134.32 Low Aug 28
- 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 Friday however strong support was found at the day low of 134.32. Despite this recovery, a bearish theme remains intact and further downside pressure is likely. Last week's confirmation of a resumption of the downtrend that started early August and the recent impulsive sell-off continues to weigh on sentiment. The focus is on 134.15 next, a Fibonacci retracement. Resistance is at 135.60, Aug 27 high.