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(H18) Near Term Risk Is For Lower........>

GILT TECHS
GILT TECHS: (H18) Near Term Risk Is For Lower While 122.24-122.28 Caps
*RES 4: 122.74 38.2% Fibo of 125.69-120.92
*RES 3: 122.61/65 Jan 25 low, Jan 30 high
*RES 2: 122.24/28 Feb 6 high, Jan 29 low
*RES 1: 122.05 Hourly resistance
*PRICE: 121.51 @0944GMT 
*SUP 1: 121.19/23 Feb 5 low, hourly support
*SUP 2: 120.92 Feb 2 low
*SUP 3: 120.73 5 month bear channel base projection
*SUP 4: 120.65 1% volatility band
*COMMENTARY* Found some support earlier in the week from around the lower 1%
volatility band. This coupled with some heavily oversold conditions, given the
fall from the Dec 15 peak at 125.69, provided a corrective opportunity, which so
far has failed to surmount the 122.28-122.28 barrier. While capped here the risk
is for another tilt lower, loss of 120.92 would open the way for 120.73-120.65
next.

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