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(H18) Recovery Held Back While...........>

GILT TECHS
GILT TECHS: (H18) Recovery Held Back While 124.96-125.17 Caps
*RES 4: 125.69 Dec 15 high
*RES 3: 125.35/42 Dec 29, Dec 27 highs
*RES 2: 125.17 Jan 2 high
*RES 1: 124.95/96 Intraday, Jan 3 highs
*PRICE: 124.65 @1706GMT 
*SUP 1: 124.25/35 Hourly support
*SUP 2: 124.05/10 76.4% 123.62-125.69, 61.8% 123.12-125.69
*SUP 3: 123.84 Equality fall from 125.42 to 125.69-124.11
*SUP 4: 123.73 76.4% Fibo of 123.12-125.69
*COMMENTARY* The key 124.05-124.10 support area has been challenged twice now
within the last month. So far it has stood up to the test but as yet any
recovery lacks the impetus of a break through 124.96-125.17 resistance. Will
need to see levels back above here, before any real confidence in the upside
will be restored. Meanwhile, 124.35-125.25 provides an initial buffer to that
still important 124.10-124.05 area. 

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