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GILT TECHS: (M18) 50% Fibo Retrace At 122.01 The Next Upside Barrier
*RES 4: 122.65 61.8% Fibo of 124.73-119.29
*RES 3: 122.60 Jan 22 low, now resistance
*RES 2: 122.21 1% volatility band
*RES 1: 122.01/02 50% Fibo of 124.73-119.29, Mar 2 high
*PRICE: 121.71 @0913GMT
*SUP 1: 121.43/44 Mar 2 low, hourly base Mar 1
*SUP 2: 121.25 Feb 27 high, now support
*SUP 3: 121.05 Hourly congestion area Feb 27
*SUP 4: 120.82 Feb 21 high, now support
*COMMENTARY* Has continued to recover since finding a base at 119.29, in the
middle of last month. The further lift through 121.37 last week has seen the
rally move towards the next Fibo retrace level, the 50%, at 122.01. Will need to
maintain a break through here, before thoughts can turn to the upper 1%
volatility band, at 122.21 by time today and then the next area of note between
122.60-122.65. Meanwhile, support comes from above 121.44-121.43.