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(H18) Correcting Lower After.............>

GILT TECHS
GILT TECHS: (H18) Correcting Lower After 125.69-125.71 Caps
*RES 4: 125.94 Equality from 124.49 to 123.62-125.08
*RES 3: 125.69/71 Dec 15 high, 1.618 swing of 124.91-123.62
*RES 2: 125.37/43 Previous basing area Dec 15-18
*RES 1: 124.95/10 Hourly resistance
*PRICE: 124.58 @0922GMT 
*SUP 1: 124.49 Dec 13 low
*SUP 2: 124.41 50% Fibo of 123.12-125.69
*SUP 3: 124.10 61.8% Fibo of 123.12-125.69
*SUP 4: 123.62 Dec 8 low
*COMMENTARY* A high of 125.69 on Friday, above the 76.4% Fibo retrace level at
125.62 but shy of the swing target at 125.71. Had subsequently met some
overbought conditions, so looking for some pullback and with the loss of
124.95-124.90 the Dec 14 low at 124.72 became vulnerable. Further break here
sees recent upside momentum lost and pressure back on 124.49-124.41. Meanwhile,
124.95-125.10 now provides initial resistance to any recovery efforts.

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