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(Z2) Bearish And Remains Below 20-day EMA

GILT TECHS
  • 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: 99.95 20-day EMA
  • PRICE: 94.31 @ 10.47 BST 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 99.95 today. An extension lower would open key support and the bear trigger at 90.99. On the upside, 99.95 to 100.92, is the key resistance zone.

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