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(M18) Immediate Focus On 123.12 *RES.....>

GILT TECHS
GILT TECHS: (M18) Immediate Focus On 123.12
*RES 4: 124.11 Low Dec 21 now resistance 
*RES 3: 123.57 Low Dec 1 now resistance 
*RES 2: 123.12 Bull channel top, Low Nov 30 now resistance 
*RES 1: 122.72 High Mar 28
*PREVIOUS CLOSE: 122.65
*SUP 1: 122.26 High Mar 22 now support 
*SUP 2: 121.60 21-DMA 
*SUP 3: 121.40 55-DMA 
*SUP 4: 121.04 Low Mar 22
*COMMENTARY: Bulls finally managed a close above the 100-DMA (122.38) that adds
support to the bullish case for tests of 123.12 where Nov lows and the bull
channel top are located. Overall bulls now need a close 124.11 to 125.64-126.05
where 55 & 100-WMAs are situated. Bears now look for a close below 122.26 to
ease bullish pressure and hint at a correction back to 21 & 55-DMAs.

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