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(U17) Rally Capped By 1% Volatility......>

GILT TECHS
GILT TECHS: (U17) Rally Capped By 1% Volatility Band, 'Doji Candle Close
*RES 4: 128.61/68 1% volatility band, Jun 21 high
*RES 3: 128.40 Jun 26 high
*RES 2: 128.24 Aug 11 high
*RES 1: 127.87/92 Hourly resistance
*PRICE: 127.34 @1157GMT
*SUP 1: 127.19/21 61.8% of 126.54-128.24, Aug 10 low
*SUP 2: 126.95/06 76.4% of 126.54-128.24, Aug 8-9 gap
*SUP 3: 126.49/54 Jul 28 high, Aug 4 low
*SUP 4: 126.20/25 6 week suppt line, 76.4% of 125.63-128.24
*COMMENTARY* A fresh upside surge last Friday, which saw a challenge toward
upper 1% volatility band at the time and a high of 128.24. The subsequent lower
close on that day however, has created a potentially bearish 'Doji' candle close
on the daily chart. Support from 127.19-127.21 is under pressure today but it is
the 127.06-126.95 area that is currently of more importance. Loss of the latter
would caution now.

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