(M0) Downside Risk Intact *RES 4:........>

GILT TECHS: (M0) Downside Risk Intact

*RES 4: 139.84 High Mar 9 and bull trigger

*RES 3: 138.22 High Mar 10

*RES 2: 136.99 High Mar 13

*RES 1: 134.90 High Mar 16

*PRICE: 135.02 @ Close Mar 16

*SUP 1: 135.90 Low Mar 16

*SUP 2: 134.39 50-day EMA

*SUP 3: 134.00 Round number support

*SUP 4: 133.82 Low Feb 25

Gilt futures remain weak as the correction that unfolded last week extends.

Prices have traded through an initial key area of support around 135.84, the

20-day EMA. The break of this region signals scope for a deeper pullback and

exposes the 50-day EMA at 134.39. A move through this average would expose the

134.00 handle. On the upside, initial firm resistance is seen at 136.99, Mar 13

high ahead of the more important near-term level at 138.15.