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(M18) 122.47-122.69 The Bar To Further...>

GILT TECHS
GILT TECHS: (M18) 122.47-122.69 The Bar To Further Recovery Hopes
*RES 4: 123.03 Apr 4 high
*RES 3: 122.94 May 4 high
*RES 2: 122.69 May 8 high
*RES 1: 122.47/50 May 4 low, May 10 high
*PRICE: 122.28 @0749GMT 
*SUP 1: 121.82/88 May 10 low, hourly support
*SUP 2: 121.57/67 61.8% Fibo of 120.73-122.94, May 9 low
*SUP 3: 121.49/50 Apr 26 high, Apr 27 low
*SUP 4: 121.25 76.4% Fibo of 120.73-122.94
*COMMENTARY* Last Thursday's high of 122.94 was all the rally could muster,
failing to trouble the Apr 4 high at 123.03. Gradually the weight of some near
term overbought conditions have enforced a pullback, Wednesday's loss of 121.95
swinging the focus back on to the May 3 low at 121.70. Have to hold around here
to retain any of the recent upside momentum gained since the 120.73 base late
last month. Meanwhile, resistance from 122.47-122.69 can provide a ceiling.

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