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(H18) Broad Sideways Trading Continues...>

GILT TECHS: (H18) Broad Sideways Trading Continues
*RES 4: 125.99 Daily Bull channel top 
*RES 3: 125.69 High Dec 15 
*RES 2: 125.41 High Dec 27 
*RES 1: 124.96 High Jan 3
*SUP 1: 124.50 Low Jan 4 
*SUP 2: 124.05 Low Jan 2 
*SUP 3: 123.91 Bollinger band base 
*SUP 4: 123.73 Daily Bull channel base
*COMMENTARY: The contract continues to whip around within a broad 124.05-125.41
range. Bears continue to look for a close below 123.62 to confirm a break of the
bull channel base and to shift overall focus to tests of 122.44 Oct lows. Bulls
need a close above 125.69 to initially pressure the bull channel top and hint at
a test of 126.00. Daily studies are at largely neutral levels and Bollinger
bands relatively flat.

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