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Free Access(M18) Rally Falters In 121.91-121.93.....>
GILT TECHS: (M18) Rally Falters In 121.91-121.93 Area Again
*RES 4: 122.46/50 76.4% of 122.94-120.89, May 10 high
*RES 3: 122.15/16 Initial base May 11, 61.8% of 122.94-120.89
*RES 2: 121.91/93 50% of 122.94-120.89, May 21 high
*RES 1: 121.77 Intraday high
*PRICE: 121.39 @1518GMT
*SUP 1: 121.27 Initial rally high May 18, now support
*SUP 2: 121.12 Hourly base May 18
*SUP 3: 120.89 May 17 low
*SUP 4: 120.72/73 61.8% of 110.29-123.03, Apr 25 low
*COMMENTARY* The recovery continued on Monday, seeing a rise through the May 16
high at 121.74 and a challenge to the slightly higher 121.91-121.93 area. The
former a 50% Fibo retrace level. Became overbought as a result, support from
121.42-121.41 has since been overcome, this the protection against a deeper
121.27-121.12 fall at present. Resistance 121.77, with a sustained move through
121.93, seeing 122.15-122.16 as the next region to watch.
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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.