GILT TECHS: (Z5) Bullish Trend Outlook

• RES 4: 94.60 1.764proj of the Sep 3 - 11 - 26 price swing 
• RES 3: 94.24 1.618 proj of the Sep 3 - 11 - 26 price swing        
• RES 2: 94.00 Round number resistance 
• RES 1: 93.98 High Nov 4  
• PRICE: 93.66 @ Close Nov 4
• SUP 1: 93.15 Low Oct 27       
• SUP 2: 92.89 20-day EMA 
• SUP 3: 92.38 Low Oct 20
• SUP 4: 92.13 50-day EMA   

The trend structure in Gilt futures  is unchanged, conditions remain bullish and price is holding on to its recent gains. Furthermore, moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 94.00. Clearance of this level would open 94.24, a Fibonacci projection. Note that the contract is overbought, a pullback would allow this trend condition to unwind. Initial firm support to watch 92.89, the 20-day EMA.