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(M18) Recovery Unable To Deal With.......>

GILT TECHS
GILT TECHS: (M18) Recovery Unable To Deal With 76.4% Fibo Level
*RES 4: 123.03 Apr 4 high
*RES 3: 122.90 1% volatility band
*RES 2: 122.84 Apr 11,18 highs
*RES 1: 122.49/51 76.4% Fibo of 123.03-120.73, May 1 high
*PRICE: 122.10 @0815GMT 
*SUP 1: 121.85 Apr 30 low
*SUP 2: 121.60 Hourly base Apr 27
*SUP 3: 121.37 Hourly high Apr 26, now support
*SUP 4: 121.11 Hourly pullback low Apr 26
*COMMENTARY* Tuesday saw an attempt to break the 76.4% Fibo retrace level at
122.49, a high of 122.51 before giving way to some near term overbought
conditions. Nearest support to watch comes from the Apr 30 low at 121.85. This
currently preventing a deeper correction of the gains seen since last week's
skirmish with 120.72 support. While intact, there is scope to increase gains
toward 122.84-122.90 next. Loss would allow a further 121.60-121.11 fall.

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