(M0) Resumes Its Uptrend *RES 4:.........>

GILT TECHS: (M0) Resumes Its Uptrend

*RES 4: 140.00 Psychological round number

*RES 3: 139.84 High Mar 9 and the contract high

*RES 2: 139.00 Round number resistance

*RES 1: 138.57 High May 21

*PRICE: 138.47 @ Close May 22

*SUP 1: 137.96 Low May 21

*SUP 2: 136.94 Low May 19

*SUP 3: 136.74 Low Apr 27 and key support

*SUP 4:136.70 50-day EMA

Gilts traded higher yesterday clearing resistance at 138.40, May 15 high. This

once again confirms a resumption of the uptrend and maintains the positive price

sequence of higher highs and higher lows that has been in place since the

reversal on Mar 19. A print above 138.46, Mar 9 low has been achieved filling a

gap on the daily chart. Attention is on the contract high of 138.89 from Mar 9.

On the downside, 136.94 marks a firm near-term support.