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Free Access(H18) Key 124.10 Support Wobbles But.....>
GILT TECHS: (H18) Key 124.10 Support Wobbles But Defies Challenge
*RES 4: 125.35/42 Dec 29, Dec 27 highs
*RES 3: 125.17 Jan 2 high
*RES 2: 124.92 Dec 29 low, now resistance
*RES 1: 124.58/64 Hourly resistance
*PRICE: 124.37 @0903GMT
*SUP 1: 124.05/10 76.4% 123.62-125.69, 61.8% 123.12-125.69
*SUP 2: 123.84 Equality fall from 125.42 to 125.69-124.11
*SUP 3: 123.73 76.4% Fibo of 123.12-125.69
*SUP 4: 123.54 1% volatility band
*COMMENTARY* Found the ability to recover from last month's fall to 124.11, in
line with a test to dual Fibo support from 124.10. This again found resistance
from within the previous basing area of 125.37-125.43, seen from between Dec
15-18. The subsequent fall from there has been swift, the loss of 124.42 once
again leaving 124.10 open to challenge. As a result, 124.58-124.64 provides near
term resistance, above needed for respite.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.