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