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(M18) 122.15-122.33 Potential On Break...>

GILT TECHS: (M18) 122.15-122.33 Potential On Break Above 121.93
*RES 4: 122.46/50 76.4% of 122.94-120.89, May 10 high
*RES 3: 122.33 1.618 swing of 121.93-121.28
*RES 2: 122.15/16 Initial base May 11, 61.8% of 122.94-120.89
*RES 1: 121.98 Intraday high
*PRICE: 121.93 @0751GMT 
*SUP 1: 121.27/28 Initial rally high May 18, May 22 low
*SUP 2: 121.12 Hourly base May 18
*SUP 3: 120.89 May 17 low
*SUP 4: 120.72/73 61.8% of 110.29-123.03, Apr 25 low
*COMMENTARY* The recovery continued on Monday, seeing a rise through the May 16
high at 121.74 and a challenge to the slightly higher 121.91-121.93 area. The
former a 50% Fibo retrace level. Became overbought as a result, support from
above 121.27 then holding the fall on Tuesday. Today's fresh challenge higher
has 122.15-122.16 as the next region to watch on a sustained 121.93 break,
perhaps 122.33 thereafter.

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