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(M18) 120.29 Support Key This Week.......>

GILT TECHS
GILT TECHS: (M18) 120.29 Support Key This Week
*RES 4: 122.84 Highs Apr 11 & 18 
*RES 3: 122.21 100-DMA 
*RES 2: 122.19 Alternating hourly support/resistance 
*RES 1: 121.47 High Apr 23
*PREVIOUS CLOSE: 121.22
*SUP 1: 121.03 Low Apr 23 
*SUP 2: 120.69 Low Mar 21 
*SUP 3: 120.48 Low Feb 27 
*SUP 4: 120.29 Low Feb 22
*COMMENTARY: Bulls failed to capitalise on the rally Wednesday with the contract
capped by the key 122.84-123.03 resistance region. Losses followed on Thursday
with bears now needing a close below 121.03 to initially pressure 120.69 and
hint at a move to 120.29. Below 120.29 then targets 119.29-83. Bulls need a
close above 121.47 to gain breathing room and above the 100-DMA to to shift
focus back to 122.84-123.03. The Bollinger base is the key concern for bears.

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