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(H18) Recovery Eyes Fibo Retrace Level...>

GILT TECHS: (H18) Recovery Eyes Fibo Retrace Level At 121.73
*RES 4: 122.44 Oct 25 low, now resistance
*RES 3: 122.24/25 Feb 6 high, 38.2% Fibo of 125.69-120.13
*RES 2: 121.80/85 Congestion area Feb 6-Feb 7
*RES 1: 121.63/73 Feb 9 high, 76.4% Fibo of 122.23-120.13
*PRICE: 121.63 @0845GMT 
*SUP 1: 121.00/10 Hourly support
*SUP 2: 120.74/81 Feb 15 high, Feb 20 low
*SUP 3: 120.45 Hourly base Feb 15
*SUP 4: 120.13 Feb 15 low
*COMMENTARY* Has continued to find support from above the lower 1% volatility
band throughout this year's fall. This has allowed some recovery from last
Thursday's 120.13 low and today's move back through 121.44 offers further
encouragement. Now needs a break through the 76.4% Fibo retrace at 121.73,
before recovery hopes will grow for a 121.80-85 rise next and perhaps 122.24-25
again. Support comes from 121.10-121.00 and more importantly 120.81-120.74.

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