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GILT TECHS: (Z17) Fibo Retrace At 124.57 Remains The Bar To Recovery
*RES 4: 125.47 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 Oct 31 high, 76.4% of 125.00-123.17
*PRICE: 124.31 @0909GMT
*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.