(H18) Rally Approaches November High.....>

GILT TECHS: (H18) Rally Approaches November High

*RES 4: 125.87 Nov 8 high

*RES 3: 125.50 Nov 28 high

*RES 2: 125.37 1% volatility band

*RES 1: 124.94 Nov 8 high

*PRICE: 124.70 @1635GMT 

*SUP 1: 124.18/24 Hourly support

*SUP 2: 123.95/00 Intraday hourly congestion area

*SUP 3: 123.77 Intraday hourly base

*SUP 4: 123.55 Initial recovery high Nov 30, now support

*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. Gapped open higher today, and the moves through 124.30

and then 124.60 are additional positives. The focus now switching to last

month's 124.94 high. As a result, support moves up to 124.24-124.18, loss would

caution and suggest rally has overstepped itself.