(H18) Retreats After Attempt To Retest...>

GILT TECHS: (H18) Retreats After Attempt To Retest The November High

*RES 4: 125.33 1% volatility band

*RES 3: 124.85/94 Dec 1, Nov 8 highs

*RES 2: 124.69 Hourly high Dec 1

*RES 1: 124.49 Hourly resistance

*PRICE: 124.28 @1610GMT 

*SUP 1: 123.92 Dec 4 low

*SUP 2: 123.77 Hourly base Dec 1

*SUP 3: 123.55 Initial recovery high Nov 30, now support

*SUP 4: 123.12 Nov 30 low

*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 on Friday, and the moves through

124.30 and then 124.60 were positives. The focus then switching to last month's

124.94 high. Became overbought as a result, so support moves up to

123.92-123.77, loss would caution and suggest rally has overreached itself.