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(H18) Decline Arrested So Far, Ahead.....>

GILT TECHS
GILT TECHS: (H18) Decline Arrested So Far, Ahead Of 122.08-121.94 Support
*RES 4: 123.26 Jan 12 low, now resistance
*RES 3: 123.11/12 Jan 25-26 highs
*RES 2: 122.96 Hourly recovery high Jan 26
*RES 1: 122.61/69 Jan 25, Jan 24 lows, now resistance
*PRICE: 122.61 @0812GMT 
*SUP 1: 122.28 Jan 29 low
*SUP 2: 122.08 December 2016 low
*SUP 3: 121.94/99 1% vol band, 3 week bear channel base
*SUP 4: 121.42 1.618 swing of 123.12-125.87
*COMMENTARY* Failure to regain 124.00-124.20 resistance over the course of the
last week, has seen the resumption of the underlying downtrend. This coupled
with the loss of 123.26, has seen the downside extend below the swing target at
122.68 and the Jan 2017 low at 122.60. A low of 122.28 so far, as we approach
122.08-121.94 support. Resistance 122.61-122.69 but back above 122.96 currently
needed to add momentum to any recovery.

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