(H18) Key 123.03 Support Survives........>

GILT TECHS: (H18) Key 123.03 Support Survives Again

*RES 4: 124.94 Nov 8 high

*RES 3: 124.60 Nov 28 high

*RES 2: 124.27/30 Hourly congestion area Nov 27-28

*RES 1: 124.18/19 Nov 24, 27 lows, now resistance

*PRICE: 123.99 @1000GMT 

*SUP 1: 123.57/64 Hourly support

*SUP 2: 123.43 Hourly base Nov 30

*SUP 3: 123.12/15 Nov 30, Nov 1 lows 

*SUP 4: 123.03 76.4% of 122.44-124.94

*COMMENTARY* Ended last month as it began, with a drop back to the 123.12-123.15

lows. On both occasions this kept support from above the 76.4% Fibo retrace

level at 123.03 intact. Have now gapped open higher today, looking to

124.18-124.30 for initial resistance to this rise. Back above the latter would

be another positive, the focus then switching to last month's two previous

124.60-124.94 highs. As a result, support moves up to 123.64-123.43.