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(U18) Weak Recovery Leaves Downside......>

GILT TECHS
GILT TECHS: (U18) Weak Recovery Leaves Downside Vulnerable
*RES 4: 123.52/58 May 31 high, hourly recovery high May 30
*RES 3: 123.25 Hourly congestion area May 29-31
*RES 2: 123.00 Hourly recovery high Jun 1
*RES 1: 122.85 Hourly resistance
*PRICE: 122.39 @0820GMT 
*SUP 1: 122.32/34 Hourly base May 25, 50% of 120.01-124.67
*SUP 2: 122.12 1.618 swing of 122.43-122.93
*SUP 3: 121.86 May 4 high, now support
*SUP 4: 121.77/79 May 24 high, 61.8% Fibo of 120.01-124.67
*COMMENTARY* Failure to move back above 123.00 this week has been the catalyst
for the latest fall below previous 122.43 support. This now sees 122.34-122.32
as next support and buffer against a further fall to 122.12, the swing target of
the recent 122.43-122.93 recovery. In the interim, resistance comes from beneath
122.85 and then that afore mentioned 123.00. Back above the latter needed for
respite.

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