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

GILT TECHS
GILT TECHS: (Z9) Correcting
*RES 4: 134.12 High Sep 6 and key resistance
*RES 3: 133.91 High Sep 9
*RES 2: 133.27 High Sep 12
*RES 1: 132.27 High Sep 17
*PRICE: 131.99 @ Close Sep 17
*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 pushed higher yesterday extending this weeks correction. 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
thereby establishing 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 initial resistance at yesterday's 132.27 high.

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