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Free Access(M18) Recovery Pauses At 50% Fibo........>
GILT TECHS: (M18) Recovery Pauses At 50% Fibo Retrace At 122.01
*RES 4: 122.60 Jan 22 low, now resistance
*RES 3: 122.21 1% volatility band
*RES 2: 122.01/02 50% Fibo of 124.73-119.29, Mar 2 high
*RES 1: 121.70/80 Hourly resistance
*PRICE: 121.21 @1700GMT
*SUP 1: 121.20/25 Hourly support, Feb 27 high
*SUP 2: 121.05 Hourly congestion area Feb 27
*SUP 3: 120.82 Feb 21 high, now support
*SUP 4: 120.48 Feb 27 low
*COMMENTARY* Continued to recover since finding a base at 119.29, in the middle
of last month. The further lift through 121.37 last week has seen the rally move
towards the next Fibo retrace level, the 50%, at 122.01. Will need to maintain a
break through here, before thoughts can turn to the upper 1% volatility band, at
122.21 by time today and then the next area of note between 122.60-122.65.
Meanwhile, support from 121.44-121.43 has been lost, eyes now on 121.05-120.82.
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Why MNI
MNI is the leading provider
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.