(H0) Downtrend Intact For Now *RES 4:....>

GILT TECHS: (H0) Downtrend Intact For Now

*RES 4: 133.59 High Nov 26 and key resistance

*RES 3: 133.35 High Dec 2

*RES 2: 132.42 High Dec 12 and intraday key resistance

*RES 1: 132.12 High Dec 16

*PRICE: 131.28 @ Close Dec 16

*SUP 1: 130.45 Low Dec 13

*SUP 2: 130.39 1.764 projection of Nov 26 - Dec 3 decline from Dec 4 high

*SUP 3: 130.00 Psychological round number

*SUP 4: 129.60 2.236 projection of Nov 26 - Dec 3 decline from Dec 4 high

H0 Gilt rallied sharply off the low on Dec 1. Whether this is the start of a

bullish theme however is too early to tell. The sell-off on Dec 1 saw price

register a fresh low of 130.45 confirming a resumption of the downtrend that has

been in place since September. With bearish conditions still in place for now,

scope is seen for weakness towards 130.39 and the psychological 130.00 level

next. Clearance of 132.42, Dec 12 high is required to alter the picture.