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(H18) Initial Focus On 200-WMA *RES 4:...>

GILT TECHS
GILT TECHS: (H18) Initial Focus On 200-WMA
*RES 4: 123.26 2018 Low Jan 12 now resistance 
*RES 3: 123.12 Low Nov 30 now resistance 
*RES 2: 122.65 High Jan 30 
*RES 1: 122.22 Hourly support Jan 31 now resistance
*PREVIOUS CLOSE: 122.14
*SUP 1: 122.01 Bollinger band base 
*SUP 2: 121.87 2018 Low Jan 31 
*SUP 3: 121.38 200-WMA 
*SUP 4: 120.54 Monthly Low May 25 2016
*COMMENTARY: The contract remained capped ahead of key DMAs in past weeks with
the sell-off Wednesday leaving H18 looking a little heavy. Fresh 2018 & 18mth
lows add weight to the case for a test of the 200-WMA. Bears need a close below
the 200-WMA to target 118.93-120.54 where 2016 monthly lows are situated. Bulls
now look for a close above 122.65 to ease bearish pressure and above 123.43 to
shift focus to 123.61-124.50.

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