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(Z2) Bullish S/T Theme Reverses

GILT TECHS
  • RES 4: 105.34 High Sep 22
  • RES 3: 102.45 High Sep 23
  • RES 2: 101.29 20-day EMA
  • RES 1: 100.92 High Oct 4
  • PRICE: 96.93 @ 08.58 BST Oct 6
  • SUP 1: 94.92 Low Sep 29
  • 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 short-term bullish outlook in Gilt futures has reversed, with prices returning toward the bottom-end of the weekly range. Despite the print above 100.00 this week, prices are holding below the 20-day EMA at 101.29 to keep focus pointed lower for now. Initial support is seen at 94.92, the Sep 29 low. Any return higher needs to top 101.29 before 102.45 can be considered.

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