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(Z9) Correcting *RES 4: 134.12 High......>

GILT TECHS
GILT TECHS: (Z9) Correcting
*RES 4: 134.12 High Sep 6
*RES 3: 133.27 High Sep 12
*RES 2: 132.14 Trendline resistance drawn off the Sep 3 high
*RES 1: 132.04 High Sep 13
*PRICE: 131.96 @ Close Sep 16
*SUP 1: 131.05 Low Sep 13 and near-term bear trigger
*SUP 2: 130.66 1.00 projection of Sep 3 - Sep 5 decline from Sep 6 high
*SUP 3: 130.00 Round number support
*SUP 4: 129.82 1.618 projection of Sep 6 - Sep 11 rally from Sep 12 high
Z9 Gilt managed a decent recovery Monday retracing most of Friday's range. A
bearish outlook remains in place though. The clear breach recently of former
support at 132.44, Sep 5 low confirmed a price sequence of lower lows and lower
highs, confirming a downtrend. MA studies are in a bear mode and price action
has also cleared the important 50-day EMA. The focus is on 130.66 next, a
Fibonacci projection level with resistance at Friday's 132.04 high.

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