(Z17) Fibo Retrace At 124.57 Now The.....>

GILT TECHS: (Z17) Fibo Retrace At 124.57 Now The Bar To Recovery

*RES 4: 125.49 1% volatility band

*RES 3: 124.99/00 Oct 18, Oct 19 highs

*RES 2: 124.69 Oct 23 high

*RES 1: 124.54/57 Intraday high, 76.4% of 125.00-123.17

*PRICE: 124.35 @1600GMT

*SUP 1: 124.03 Oct 30 low

*SUP 2: 123.85 Hourly congestion Oct 27

*SUP 3: 123.71 Hourly high/low Oct 25, Oct 27

*SUP 4: 123.46 Oct 26 low

*COMMENTARY* Found support at 123.17 last Wednesday, this just above the Sep 28

low at 123.12 and the lower 1% volatility band. The subsequent recovery, has now

broken back above the pivotal 123.96 level. This sees the potential to increase

gains and the correction, into the 76.4% Fibo retrace at 124.57 next. As a

result, support also rises to 124.03. Loss would disappoint at this stage and

suggest scope for a 123.71-123.46 setback.