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(M18) Recovery Aims For 122.84-122.97....>

GILT TECHS
GILT TECHS: (M18) Recovery Aims For 122.84-122.97 Next
*RES 4: 123.57 61.8% Fibo of 125.69-120.13
*RES 3: 123.03 Apr 4 high
*RES 2: 122.97 1% volatility band
*RES 1: 122.84 Apr 11,18 highs
*PRICE: 122.52 @1700GMT 
*SUP 1: 122.26 Initial intraday recovery high, now support
*SUP 2: 121.95 Minor congestion area May 2-3
*SUP 3: 121.70 Intraday low
*SUP 4: 121.49/50 Apr 26 high, Apr 27 low
*COMMENTARY* Having been held back by the 122.51 level on Tuesday, the following
setback has been held at 121.70, just above initial support from 121.60. Today's
subsequent rally has reclaimed ground back above 122.36 and also that 122.51.
This now sees the Apr 11, Apr 18 highs at 122.84 as the next potential barrier
to cross, before another challenge to the 1% volatility band and the 123.03
April high. Support now 122.26-121.95.

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