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(U18) 122.43-122.60 The Bar To Further...>

GILT TECHS
GILT TECHS: (U18) 122.43-122.60 The Bar To Further Recovery Hopes
*RES 4: 122.93 Jun 5 high
*RES 3: 122.80/81 May 29, May 31 lows, now resistance
*RES 2: 122.60 Initial low Jun 5, now resistance
*RES 1: 122.43 Jun 5 low, now resistance
*PRICE: 122.35 @0825GMT 
*SUP 1: 121.98/99 Hourly support
*SUP 2: 121.73 Hourly recovery high Jun 7, now support
*SUP 3: 121.47/51 1% volatility band, Jun 7 low
*SUP 4: 121.16 76.4% Fibo of 120.01-124.67
*COMMENTARY* Failure to move back above 123.00 this week has been the catalyst
for the increased fall, firstly below previous 122.43 support and then the
121.86-121.77 area at Thursday's open. This saw a low of 121.51 as the decline
approaches the lower 1% volatility band at 121.47. This the protection against a
further 121.16-121.09 fall. As a result, back above 121.98-122.18 helps but
122.43-122.60 break required before any belief in a recovery will appear.

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