GILT TECHS: (Z6) Corrective Cycle Extends

* RES 4: 86.75 High Aug 27 * RES 3: 86.51 76.4% retracement of theAug 12 - Sep 14 bear leg * RES 2: 86.38 High Sep 4 * RES 1: 86.27 High Sep 22 * PRICE: 85.88 @ 06:44 BST Sep 23 * SUP 1: 84.69/83.72 Low Sep 17 / 14 and the bear trigger * SUP 2: 83.60 2.236 proj of the Aug 12 - 18 - 25 price swing * SUP 3: 83.37 2.382 proj of the Aug 12 - 18 - 25 price swing * SUP 4: 83.00 Round number support Gilt futures are trading closer to their recent highs. The bounce from the Sep 14 low appears to be a correction. However, note that resistance at the 20-day EMA, at 85.50, has been breached. The clear break suggests scope for a stronger recovery, towards 86.51 next, a Fibonacci retracement. Key support and the bear trigger has been defined at 83.72, the Sep 14 low. First support lies at 84.69, the Sep 17 low.