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(M18) Broad Sideways Trading Continues...>

GILT TECHS
GILT TECHS: (M18) Broad Sideways Trading Continues
*RES 4: 123.03 High Apr 4 
*RES 3: 122.94 High May 4 
*RES 2: 122.86 Bollinger band top 
*RES 1: 122.04 100-DMA
*PREVIOUS CLOSE: 121.87
*SUP 1: 121.49 High Apr 26 now support 
*SUP 2: 121.07 Low Mar 26 
*SUP 3: 121.02 Daily Bull channel base 
*SUP 4: 120.69 Low Mar 21
*COMMENTARY: The contract continues to trade sideways in a broad 120.69-123.03
range. Rejection ahead of the top of this range leaves the contract looking
heavy and risks a move back to 120.69 following the close below the 100-DMA
having eased bullish pressure. Below 121.49 to confirm focus on 120.69 with
below 120.69 needed to confirm focus on 119.29 Feb lows. Bulls need a close
above 123.03 to initially target 123.78.

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