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(H18) Focus On Weekly Bear Channel.......>

GILT TECHS: (H18) Focus On Weekly Bear Channel Base
*RES 4: 122.28 Low Jan 29 now resistance 
*RES 3: 121.97 High Feb 7 
*RES 2: 121.69 High Feb 9 
*RES 1: 121.33 High Feb 13
*SUP 1: 120.76 Low Feb 12 
*SUP 2: 120.71 Hourly support Feb 8 
*SUP 3: 120.48 2018 Low Feb 8 
*SUP 4: 119.58 Weekly Bear channel base
*COMMENTARY: The topside failure ahead of 122.28 resulted in fresh 2018 & nearly
2 year lows Thursday although follow through has been lacking with the Bollinger
base (120.32) and O/S studies key concerns for bears. Bulls look for a close
above 121.69 to ease immediate bearish pressure and above 122.65 to confirm a
break of the 21-DMA (122.35) and shift in initial focus to 123.12-82 where 55 &
100-DMAs are noted. Bears continue to target the weekly bear channel base.

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