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Free Access(H18) Recovery Falters Within............>
GILT TECHS: (H18) Recovery Falters Within Congested 121.80-85 Area
*RES 4: 122.44 Oct 25 low, now resistance
*RES 3: 122.33 1% volatility band
*RES 2: 122.24/25 Feb 6 high, 38.2% Fibo of 125.69-120.13
*RES 1: 121.80/85 Congestion area Feb 6-Feb 7
*PRICE: 121.48 @0900GMT
*SUP 1: 121.05/15 Hourly support
*SUP 2: 120.74/81 Feb 15 high, Feb 20 low
*SUP 3: 120.51 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 Wednesday's move back through 121.44 offers further
encouragement. Now needs to sustain a break through the congested 121.80-121.85
area before thoughts can turn to 122.24-122.33 again. Support comes from
121.15-121.05 and then more importantly 120.81-120.74. Loss would disappoint.
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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.