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(Z18) Downtrend Intact Despite Bullish...>

GILT TECHS
GILT TECHS: (Z18) Downtrend Intact Despite Bullish Day
*RES 4: 122.74 High Sep 4 
*RES 3: 122.52 High Sep 6 
*RES 2: 121.95 High Sep 12 
*RES 1: 121.59 Low Aug 29 now resistance 
*PREVIOUS CLOSE: 120.97 
*SUP 1: 120.89 June May 17 (continuation chart) 
*SUP 2: 120.73 Low April 25 (continuation chart) 
*SUP 3: 120.13 Low Feb 15 (continuation chart) 
*SUP 4: 118.93 Low April 26, 2016 (continuation chart) 
Dec-10 Gilt futures traded as low as 120.54 yesterday before rallying to close
the day stronger. However, the downtrend remains intact with bears targeting the
May 17 low at 120.89 on the continuation chart. Below here brings into play the
April 25 low at 120.73 (continuation chart). Bulls need to recover the Aug 29
low at 121.59 to shift the outlook neutral, while a break back above the 12 high
at 121.95 is needed to shift the outlook positive.

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