TECHS:(Z18) Breakout Attempt Fails.......>

GILT TECHS: TECHS:(Z18) Breakout Attempt Fails

*RES 4: 136.75 High May 16 (Continuation chart) 

*RES 3: 132.88 High May 28 (Continuation chart) 

*RES 2: 129.97 High July 19 (Continuation chart) 

*RES 1: 128.02 High July 17 

*PREVIOUS CLOSE: 126.52 

*SUP 1: 125.25 100-dma 

*SUP 2: 124.37 55-dma 

*SUP 3: 123.30 High Aug 22 now support 

*SUP 4: 120.47 Low Sep 3 

Early attempts to break above its short-term downtrend from the Sep 18 high were

reversed as bulls failed to overcome the 127.50 level, which keeps the sideways

trend intact. A break above the Sep 18 high of 127.70 is needed to allow bulls

to target the July 17 high at 128.02, above which would potentially trigger a

large double bottom formation. Bears continue to eye the 10-dma at 125.25, below

here would suggest a bearish reversal is in play.