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(M18) 121.66-121.75 Stands In Way Of.....>

GILT TECHS
GILT TECHS: (M18) 121.66-121.75 Stands In Way Of Recovery Efforts
*RES 4: 122.84 Apr 11, Apr 18 highs
*RES 3: 122.49 Apr 6 high
*RES 2: 122.00 Apr 20 high
*RES 1: 121.66/75 Hourly high Apr 20, hourly resistance
*PRICE: 121.35 @0748GMT 
*SUP 1: 120.95/03 Hourly support, Apr 23 low
*SUP 2: 120.72 61.8% Fibo of 119.29-123.03
*SUP 3: 120.64/69 1.618 swing of 121.48-122.84, Mar 21 low
*SUP 4: 120.60 1% volatility band
*COMMENTARY* The 50% Fibo retrace level at 121.16 the latest support to come
under challenge, giving way on Monday, a low of 120.03 seen, before bouncing on
the back of some near term oversold conditions. Some minor resistance around
121.50 but eyes will be on the 121.66-121.75 region, to see if this recovery has
any bite. Require a move back through the latter to shake off the negative vibes
that can still see a deeper 120.95-120.60 fall.

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