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(M18) Recovery Pauses At 50% Fibo........>

GILT TECHS
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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