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(Z17) Giving Back Some Gains As 125.08...>

GILT TECHS
GILT TECHS: (Z17) Giving Back Some Gains As 125.08 Fibo Resistance Caps
*RES 4: 125.50 1% volatility band
*RES 3: 125.08 38.2% Fibo of 128.24-123.12
*RES 2: 124.99/00 Oct 18, Oct 19 highs
*RES 1: 124.75/83 Overnight gap Oct 19-20
*PRICE: 124.44 @1250GMT
*SUP 1: 124.22 Oct 20 low
*SUP 2: 124.16 50% Fibo of 123.32-125.00
*SUP 3: 124.02/05 Oct 17 low, Oct 9 high
*SUP 4: 123.96 61.8% Fibo of 123.32-125.00
*COMMENTARY* The recovery is still struggling to surmount resistance from the
38.2% Fibo retrace level at 125.08. Highs of 124.99-125.00 achieved, before
succumbing to some overbought conditions. In this respect, a low of 124.22 seen
on Friday, just ahead of the 50% Fibo retrace level at 124.16, as we give back
some of the gains seen from September's 123.12 base. Meanwhile, Friday's opening
gap between 124.75-124.83 provides immediate resistance.

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