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29 May 2013
Flash: Gilts eye key 117.05 support – RBS
FXstreet.com (Barcelona) - According to Technical Strategist Dmytro Bondar at RBS, “Gilts reached a major support of 117.05, the 61.8% retrace of November 2012-February 2013.”
Moreover, “As oscillators show a failure swing or bullish divergence, suggesting the level should hold and a marginal recovery to be seen in the short term. However, in the long-term it is likely that the market would go lower and reach the 116.08, being the target from the recent bear flag pattern.” Bondar adds.
Moreover, “As oscillators show a failure swing or bullish divergence, suggesting the level should hold and a marginal recovery to be seen in the short term. However, in the long-term it is likely that the market would go lower and reach the 116.08, being the target from the recent bear flag pattern.” Bondar adds.