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(M18) Decline Reaches Toward 121.16......>

GILT TECHS
GILT TECHS: (M18) Decline Reaches Toward 121.16 Fibo Support
*RES 4: 122.84 Apr 11, Apr 18 highs
*RES 3: 122.49 Apr 6 high
*RES 2: 122.10/11 Apr 5, Apr 10 lows, now resistance
*RES 1: 121.80/85 Hourly resistance
*PRICE: 121.35 @1645GMT 
*SUP 1: 121.16 50% Fibo of 119.29-123.03
*SUP 2: 120.89 1% volatility band
*SUP 3: 120.69/72 Mar 21 low, 61.8% Fibo of 119.29-123.03
*SUP 4: 120.64 1.618 swing of 121.48-122.84
*COMMENTARY* Having held the 121.48-121.44 area earlier in the week, Wednesday
saw a fresh attempt at a rally, which was curtailed again by the Apr 11 high at
122.84. The following pullback has lost support from both 121.80 and 121.44
today. This sees focus next on the 50% Fibo retrace level at 121.16 which in
turn protects the lower 1% volatility band at 120.89 and then the next key area
between 120.72-120.64. Meanwhile, nearest resistance drops to 121.80-121.85.

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