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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: 122.32
*SUP 1: 121.74 55-DMA 
*SUP 2: 121.49 High Apr 26 now support 
*SUP 3: 121.07 Low Mar 26 
*SUP 4: 121.05 Daily Bull channel base
*COMMENTARY: The contract continues to trade sideways in a broad 120.69-123.03
range. Bulls take comfort in the support emerging on dips back to the 55-DMA.
Bears look for a close below 121.49 to confirm a break of the 55-DMA and to
pressure 120.69-121.07 where the bull channel base is noted. Below 120.69 is
needed to target 119.29 Feb lows. Bulls need a close above 123.03 to initially
target 123.84.

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