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(H18) Recovery Thwarted So Far Within....>

GILT TECHS: (H18) Recovery Thwarted So Far Within 124.92-125.17 Area
*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: 124.92/96 Dec 29 low, Jan 3 high
*PRICE: 124.65 @1610GMT 
*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 couple of weeks. 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
124.10-124.05 area. 

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