(H18) Fresh Fall Again Testing Support...>

GILT TECHS: (H18) Fresh Fall Again Testing Support From Around 123.26

*RES 4: 124.50 Jan 11 high

*RES 3: 124.20 Jan 16 high

*RES 2: 124.00 Congestion area Jan 16-17

*RES 1: 123.79/82 Jan 23 high, Jan 19 high

*PRICE: 123.35 @0819GMT 

*SUP 1: 123.26/29 Jan 12, Jan 22 lows

*SUP 2: 122.98/12 1.618 swing of 123.29-123.79, Nov 30 low

*SUP 3: 122.73 1.618x 125.42-124.05 from 124.95

*SUP 4: 122.68 1.618 swing of 123.26-124.20

*COMMENTARY* The loss of 123.40 on Monday was followed by another attempt on the

Jan 12 low at 123.26. Some slightly earlier support from 123.29 was able to

contain the fall, before some near term oversold conditions allowed a bounce. In

this respect, 123.75-123.82 provides the first potential bar to gains, with

124.00-124.20 higher. Failure below the latter will likely see the resumption of

the underlying downtrend.