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(M18) Bears Need Close Below 120.69......>

GILT TECHS
GILT TECHS: (M18) Bears Need Close Below 120.69
*RES 4: 122.94 High May 4 
*RES 3: 122.79 Bollinger band top 
*RES 2: 122.50 High May 10 
*RES 1: 121.82 55-DMA
*PREVIOUS CLOSE: 121.55
*SUP 1: 121.18 Daily Bull channel base off Feb low 
*SUP 2: 121.07 Low Mar 26 
*SUP 3: 120.69 Low Mar 21 
*SUP 4: 120.48 Low Feb 27
*COMMENTARY: The contract continues to trade sideways in a broad 120.69-123.03
range. The closes below the 55-DMA adds weight to the case for a test of the
120.69-18 region where the bull channel base is noted. Overall a close below
120.69 is needed to end broad sideways trading and initially target 119.29 Feb
lows. Bulls now need a close above the 55-DMA to gain breathing room and above
123.03 to initially target 123.84.

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