(H19) Weak Close Signals Potential.......>

GILT TECHS: (H19) Weak Close Signals Potential False Break

*RES 4: 124.27 High July 20 (continuation chart) 

*RES 3: 124.07 High Aug 17 (continuation chart) 

*RES 2: 123.59 High Sep 4 (continuation chart) 

*RES 1: 123.40 High Nov 15 (continuation chart) 

*PREVIOUS CLOSE: 122.45 

*SUP 1: 121.72 Low Nov 22 

*SUP 2: 121.12 Low Nov 8 (continuation chart) 

*SUP 3: 120.10 High Oct 8 (continuation chart) 

*SUP 4: 119.81 Low Oct 12 (continuation chart) 

Gilt futures reached as high at 122.82 yesterday before a weak close brought

price action back into its recent trading range warning of a false bullish

break. Bulls need to take out the Nov 15 high at 123.40 to trigger extend the

rally to new cycle highs. A move below the Nov 22 low at 121.72 would be needed

to turn the technical picture bearish.