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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: 122.87 1% volatility band
*RES 2: 122.65 61.8% Fibo of 124.73-119.29
*RES 1: 122.26 Mar 22 high
*PRICE: 121.79 @1640GMT 
*SUP 1: 121.44 Intraday low
*SUP 2: 121.30 Hourly congestion area Mar 22
*SUP 3: 121.04/09 Initial recovery high Mar 21, Mar 22 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 around 121.49. Sustained loss
would disappoint and suggest scope for a deeper 121.30-121.04 fall. In the
interim, back above 122.26 and look towards 122.65-122.87 next.

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