(Z2) Approaching Key Support

• RES 4: 105.34 High Sep 22
• RES 3: 102.45 High Sep 23
• RES 2: 100.92 High Oct 4 and a key resistance
• RES 1: 95.79/99.22 High Oct 7 / 20-day EMA
• PRICE: 92.29 @ Close Oct 10
• SUP 1: 93.33 76.4% retracement of the Sep 28 - Oct 4 rally
• SUP 2: 90.99 Low Sep 28 and the bear trigger
• SUP 3: 90.57 2.618 proj of the May 12 - Jun 16 - Aug 2 swing (cont)
• SUP 4: 90.00 Psychological round number

The recent short-term bounce in Gilt futures has reversed and resistance has been defined at 100.92, the Oct 4 high. The reversal from last week’s high means the 20-day EMA capped gains and this average remains a key short-term resistance. The EMA intersects at 99.22 today. Yesterday’s extension reinforces bearish conditions and exposes key support at 90.99. On the upside, 99.22 to 100.92, is the key resistance zone.