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(M18) Thursday's Fall Holds Above........>

GILT TECHS
GILT TECHS: (M18) Thursday's Fall Holds Above 121.16 Fibo Support
*RES 4: 122.84 Apr 11, Apr 18 highs
*RES 3: 122.49 Apr 6 high
*RES 2: 122.21 Hourly basing Apr 18, now resistance
*RES 1: 122.10/11 Apr 5, Apr 10 lows, now resistance
*PRICE: 121.51 @0814GMT 
*SUP 1: 121.39 Hourly support
*SUP 2: 121.16 50% Fibo of 119.29-123.03
*SUP 3: 120.82 1% volatility band
*SUP 4: 120.69/72 Mar 21 low, 61.8% Fibo of 119.29-123.03
*COMMENTARY* Having held the 121.48-121.44 area earlier in the week, Wednesday
saw a fresh attempt at a rally, which was curtailed again by the Apr 11 high at
122.84. The following pullback has lost support from both 121.80 and 121.44
today. This sees focus next on the 50% Fibo retrace level at 121.16 which in
turn protects the lower 1% volatility band at 120.82 and then the next key area
between 120.72-120.64. Meanwhile, resistance comes from 122.10-122.21.

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