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(U18) 122.31 Break Opens Up Corrective...>

GILT TECHS
GILT TECHS: (U18) 122.31 Break Opens Up Corrective Opportunities
*RES 4: 123.52 May 31 high
*RES 3: 123.39 61.8% Fibo of 124.67-121.33
*RES 2: 123.00 Hourly high Jun 1, 50% of 124.67-121.33
*RES 1: 122.51/61 Jun 8 high, 38.2% of 124.67-121.33
*PRICE: 122.45 @1521GMT 
*SUP 1: 122.00 Hourly support
*SUP 2: 121.84 Intraday low
*SUP 3: 121.64 Initial rally high Jun 12, now support
*SUP 4: 121.33 Jun 12 low
*COMMENTARY* A low of 121.33 this week, this the protection against a further
121.16-121.01 fall, where two 76.4% Fibo retrace levels reside, just above the
lower 1% volatility band at 120.91 today. As a result, has become oversold in
the near term, the break above 121.92-121.96, allowing initial respite, as does
the further move through 122.31. Now seeing 122.51-122.61 as the bar to a higher
correction of losses from 124.67. Support 122.00 then the day's 121.84 low.

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