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(H18) Decline Continues Ahead Of.........>

GILT TECHS
GILT TECHS: (H18) Decline Continues Ahead Of 122.15-122.08 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: 122.43 @1653GMT 
*SUP 1: 122.28 Intraday low
*SUP 2: 122.10/15 3 week bear channel base, 1% vol band
*SUP 3: 122.08 Dec 2016 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 Wednesday's 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 122.15-122.08 support. Resistance 122.61-122.69 but back above 122.96
currently needed to add momentum to any recovery.

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