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(M18) Below 21-DMA To Gain Breathing.....>

GILT TECHS
GILT TECHS: (M18) Below 21-DMA To Gain Breathing Room
*RES 4: 122.48 100-DMA 
*RES 3: 122.02 High Mar 2 
*RES 2: 121.80 55-DMA 
*RES 1: 121.65 High Mar 13
*PREVIOUS CLOSE: 121.38
*SUP 1: 121.10 Daily Bull channel base 
*SUP 2: 120.89 Low Mar 8 
*SUP 3: 120.83 21-DMA 
*SUP 4: 120.48 Low Feb 27
*COMMENTARY: The correction lower from failures ahead of the 55-DMA resulted in
a dip below the 21-DMA last week but follow through was lacking. Bears now look
for a close below the 21-DMA to gain breathing room and below 120.29 to return
initial focus to 119.29. Hesitation ahead of the 55-DMA is a concern with bulls
needing a close above Y122.02 to pressure the 100-DMA although the Bollinger top
(121.98) remains a concern and has potential to limit follow through.

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