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(M18) Loss Of 121.95 Heaps Pressure......>

GILT TECHS
GILT TECHS: (M18) Loss Of 121.95 Heaps Pressure Back on 121.70
*RES 4: 122.94 May 4 high
*RES 3: 122.69 May 8 high
*RES 2: 122.47 May 4 low, now resistance
*RES 1: 122.17 Hourly resistance
*PRICE: 121.87 @0804GMT 
*SUP 1: 121.67/70 May 9, May 3 lows
*SUP 2: 121.57 61.8% Fibo of 120.73-122.94
*SUP 3: 121.49/50 Apr 26 high, Apr 27 low
*SUP 4: 121.25 76.4% Fibo of 120.73-122.94
*COMMENTARY* Last Thursday's high of 122.94 was all the rally could muster,
failing to trouble the Apr 4 high at 123.03. Gradually the weight of some near
term overbought conditions have enforced a pullback, Wednesday's loss of 121.95
swinging the focus back on to the May 3 low at 121.70. Have to hold here to
retain any of the recent upside momentum gained since the 120.73 base late last
month. Meanwhile, resistance comes from 122.17 and then 122.47.

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