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(H18) Recovery Heads Toward..............>

GILT TECHS
GILT TECHS: (H18) Recovery Heads Toward 122.24-122.25 Resistance
*RES 4: 123.26 Jan 12 low, now resistance
*RES 3: 122.91 50% Fibo of 125.69-120.13
*RES 2: 122.44/50 Oct 25 low, 1% volatility band
*RES 1: 122.24/25 Feb 6 high, 38.2% Fibo of 125.69-120.13
*PRICE: 121.76 @0815GMT 
*SUP 1: 121.45 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
this month's 120.13 low. Last Wednesday's move back through 121.44 was the
initial encouragement, followed by Friday's rally through 121.80-121.85. This
means thoughts can turn to 122.24-122.44 again. Support comes from
121.45-121.29, back below the latter would disappoint. 

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