(H18) Bulls Need Close Above 124.72......>

GILT TECHS: (H18) Bulls Need Close Above 124.72

*RES 4: 126.00 Low Sept 13 now resistance 

*RES 3: 125.69 High Dec 15 

*RES 2: 125.30 Low Dec 15 now resistance 

*RES 1: 124.72 Hourly resistance Dec 20

*PREVIOUS CLOSE: 124.60

*SUP 1: 124.11 Low Dec 21 

*SUP 2: 124.00 55-DMA 

*SUP 3: 123.62 Low Dec 8 

*SUP 4: 123.50 Bollinger band base

*COMMENTARY: Fresh 3mth highs printed recently although the pop above the bull

channel top lacked follow through resulting in a sell-off that sees bullish

pressure eased and focus returned to 123.48-00 where the 55-DMA and weekly lows

are found. Initial resistance remains in place at 124.72 with bulls needing a

close above to ease bearish pressure and above 125.30 to return initial focus to

125.69 Dec highs so far.