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(U17) Fresh Surge Has 127.99-128.13 In...>

GILT TECHS
GILT TECHS: (U17) Fresh Surge Has 127.99-128.13 In Mind
*RES 4: 128.68 Jun 21 high
*RES 3: 128.13 76.4% Fibo of 129.19-124.71
*RES 2: 127.99 1% volatility band
*RES 1: 127.77 Intraday high
*PRICE: 127.70 @1700GMT
*SUP 1: 127.21 Intraday low
*SUP 2: 126.95/06 Aug 8-9 gap, now support
*SUP 3: 126.81 Aug 8 low
*SUP 4: 126.49/54 Jul 28 high, Aug 4 low
*COMMENTARY* The recovery has now exceeded the 61.8% Fibo retrace level at
127.48. A high of 127.77 on the day, as we head towards the upper 1% volatility
band at 127.99, with the 76.4% Fibo retrace at the higher 128.13 level. In the
meantime, support also rises, initially from the day's 127.21 low and then Aug
8-Aug 9 gap between 127.06-126.95. Main near term support currently from the Aug
8 low at 126.81.

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