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(H18) Recovery Breaks Through............>

GILT TECHS
GILT TECHS: (H18) Recovery Breaks Through Congested 121.80-85 Area
*RES 4: 123.26 Jan 12 low, now resistance
*RES 3: 122.91 50% Fibo of 125.69-120.13
*RES 2: 122.41/44 1% volatility band, Oct 25 low
*RES 1: 122.24/25 Feb 6 high, 38.2% Fibo of 125.69-120.13
*PRICE: 121.95 @1145GMT 
*SUP 1: 121.40/45 Hourly support
*SUP 2: 121.29 Feb 22 low
*SUP 3: 120.81 Feb 20 low
*SUP 4: 120.51 Hourly base Feb 15 
*COMMENTARY* Has continued to find support from above the lower 1% volatility
band throughout this year's fall. This has allowed some further recovery from
last week's 120.13 low. Wednesday's move back through 121.44 was the initial
encouragement, followed by today's rally through 121.80-121.85. This means
thoughts can turn to 122.24-122.41 again. Support comes from 121.45-121.29, back
below the latter would disappoint. 

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