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(M18) Recovery Halted By 50% Fibo........>

GILT TECHS
GILT TECHS: (M18) Recovery Halted By 50% Fibo Retrace Level
*RES 4: 122.60 Jan 22 low, now resistance
*RES 3: 122.23 1% volatility band
*RES 2: 122.01/02 50% Fibo of 124.73-119.29, Mar 2 high
*RES 1: 121.65/75 Hourly resistance
*PRICE: 121.09 @0843GMT 
*SUP 1: 121.03/05 Mar 5 low, hourly congestion area Feb 27
*SUP 2: 120.82 Feb 21 high, now support
*SUP 3: 120.48 Feb 27 low
*SUP 4: 120.29/33 Feb 22 low, 61.8% of 119.29-122.02
*COMMENTARY* Had continued to recover since finding a base at 119.29, in the
middle of last month. The further lift through 121.37 last week saw the rally
move towards the next Fibo retrace level, the 50%, at 122.01. Unable to maintain
a break through here as yet and has succumbed to some overbought hourly
conditions. Meanwhile, support from 121.44-121.43 has been lost, eyes now on
121.05-120.82. 

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