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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: 122.80 Bollinger band top 
*RES 1: 122.50 High May 10
*PREVIOUS CLOSE: 121.77
*SUP 1: 121.49 High Apr 26 now support 
*SUP 2: 121.11 Daily Bull channel base off Feb low 
*SUP 3: 121.07 Low Mar 26 
*SUP 4: 120.69 Low Mar 21
*COMMENTARY: The contract continues to trade sideways in a broad 120.69-123.03
range. M18 is now flirting with the 55-DMA (121.79). Bears continue to look for
a close below 121.49 to confirm a break of the 55-DMA and to pressure
120.69-121.11 where the bull channel base is noted. Below 120.69 is needed to
target 119.29 Feb lows. Bulls still need a close above 123.03 to initially
target 123.84.

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