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(Z9) 130.80 Is A Pivot Level *RES 4:.....>

GILT TECHS
GILT TECHS: (Z9) 130.80 Is A Pivot Level
*RES 4: 133.55 High Oct 11
*RES 3: 132.95 High Oct 15
*RES 2: 132.87 50-day EMA
*RES 1: 132.28 High Oct 17
*PRICE: 131.39 @ Close Oct 21
*SUP 1: 130.80 Low Oct 17
*SUP 2: 130.39 1.000 projection of Sep 3 - Sep 13 decline off Oct 8 high
*SUP 3: 130.00 Round number support
*SUP 4: 129.25 1.236 projection of Sep 3 - Sep 13 decline off Oct 8 high
Z9 Gilt was softer yesterday but continues to hold above last weeks low of
130.80. In Japanese candle terms, the price pattern on Oct 16 is a hammer
suggesting a low in the downtrend has been identified and is a potential
reversal sign. Bears should be on the lookout for a recovery above 132.28, Oct
17 high that would reinforce this reversal threat. A breach of 130.80 is
required to negate the candle pattern and resume the downtrend.

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