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(H18) Decline Continues, 122.68-122.60...>

GILT TECHS
GILT TECHS: (H18) Decline Continues, 122.68-122.60 Support
*RES 4: 123.79/82 Jan 23 high, Jan 19 high
*RES 3: 123.50/55 Congestion area Jan 18-23
*RES 2: 123.29 Jan 22 low, now resistance
*RES 1: 123.10 Intraday high
*PRICE: 122.68 @1555GMT 
*SUP 1: 122.60 Jan 2017 low
*SUP 2: 122.22 1% volatility band
*SUP 3: 122.08 Dec 2016 base
*SUP 4: 121.42 1.618 swing of 123.12-125.87
*COMMENTARY* Failure to regain 124.00-124.20 resistance over the course of the
last week, has seen the resumption of the underlying downtrend. This coupled
with Wednesday's loss of 123.26, has seen the downside extend between the swing
target at 122.68 and the Jan 2017 low at 122.60. As a result, resistance falls
to 123.10-123.29, back above the latter required to alleviate immediate downside
bias. Beneath 122.60 and the 1% volatility band at 122.22 protects 122.08.

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