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(M18) Next Barriers Strung Between.......>

GILT TECHS
GILT TECHS: (M18) Next Barriers Strung Between 121.89-122.16
*RES 4: 122.94/97 May 4 high, 1% volatility band
*RES 3: 122.46/50 76.4% of 122.94-120.89, May 10 high
*RES 2: 122.15/16 Initial base May 11, 61.8% of 122.94-120.89
*RES 1: 121.89/91 May 15 high, 50% of 122.94-120.89
*PRICE: 121.87 @0800GMT 
*SUP 1: 121.41/42 May 16 low, May 17 high
*SUP 2: 121.12 Hourly base May 18
*SUP 3: 120.89 May 17 low
*SUP 4: 120.72/73 61.8% Fibo of 119.29-123.03, Apr 25 low
*COMMENTARY* The recovery is underway, today seeing a rise through the May 16
high at 121.74. This should allow a look at the slightly higher 121.89-121.91
area next. A combination of the May 15 high and a 50% Fibo retrace level. As a
result, support comes from 121.42-121.41 initially and is the protection against
anything more untoward at present. A successful move through 121.91 and
122.15-122.16 becomes the next region to watch.

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