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(M18) Overbought Near Term After Fresh...>

GILT TECHS
GILT TECHS: (M18) Overbought Near Term After Fresh High Of 122.26
*RES 4: 123.00 1.618 swing of 122.12-120.69
*RES 3: 122.65/78 61.8% Fibo of 124.73-119.29, 1% vol band
*RES 2: 122.26 Intraday high
*RES 1: 122.08/15 Hourly resistance
*PRICE: 121.77 @1739GMT 
*SUP 1: 121.49 Initial intraday rally high, now support
*SUP 2: 121.30 Intraday hourly congestion area
*SUP 3: 121.04/09 Initial recovery high Mar 21, intraday low
*SUP 4: 120.69 Mar 21 low
*COMMENTARY* Has recovered well from the week's fall to a low of 120.69 on
Wednesday, so much so, that we have seen a fresh 122.26 high, as the previous
122.12 resistance level gave way. Currently correcting some near term overbought
conditions, so anticipating support initially from above 121.49. Loss would
disappoint and suggest scope for a deeper 121.30-121.04 fall. In the interim,
122.08-122.15 bars the way to 122.26 again and perhaps 122.65-122.78.

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