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(Z1) Support Remains Exposed

GILT TECHS
  • RES 4: 126.84 Low Sep 17
  • RES 3: 126.44 High Sep 24
  • RES 2: 125.72 High Oct 1
  • RES 1: 125.29 20-day EMA
  • PRICE: 124.31 @ Close Oct 18
  • SUP 1: 123.89/123.44 Low Oct 18 / Low Oct 11 and the bear trigger
  • SUP 2: 123.16 Low Feb 27, 2019 (cont)
  • SUP 3: 122.75 2.236 proj of the Aug 31 - Sep 17 - 21 price swing
  • SUP 4: 122.15 Low Jan 18, 2019 (cont)

Gilt futures remain above recent lows. Recent gains are considered corrective and have allowed an oversold condition to unwind. Resistance is seen at the 20-day EMA that intersects at 125.29. A break of this resistance area would signal scope for a stronger recovery. The broader trend direction remains down and a resumption of weakness would refocus attention on last week's low of 123.44, the bear trigger.

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