(H18) Sharp Pullback After Failure At....>

GILT TECHS: (H18) Sharp Pullback After Failure At 124.57-60 Resistance

*RES 4: 124.57/60 76.4% of 124.94-123.38, Nov 27 high

*RES 3: 124.27/30 Hourly congestion area Nov 27-28

*RES 2: 124.18/19 Nov 24, 27 lows, now resistance

*RES 1: 123.79/89 hourly resistance, intraday high

*PRICE: 123.40 @1549GMT 

*SUP 1: 123.29 Intraday low

*SUP 2: 123.03/15 76.4% of 122.44-124.94, Nov 1 low

*SUP 3: 122.86 1% volatility band

*SUP 4: 122.63 1.618 swing of 123.38-124.60

*COMMENTARY* The month's earlier 'Gravestone Doji' close on Nov 8 was

responsible for a 124.94-123.38 fall, keeping us ahead of key 123.03 Fibo

support. The subsequent recovery helped to ease some oversold conditions but the

124.57-124.60 area proved too tough to break at this stage. Meanwhile, support

from 123.61 and that prior 123.38 low has since been lost, leaving 123.15-123.03

vulnerable to test again.