(U0) Bulls Back In Control *RES 4:.......>

GILT TECHS: (U0) Bulls Back In Control

*RES 4: 139.05 High Mar 12 (cont)

*RES 3: 138.02 High May 22 and the bull trigger

*RES 2: 137.54 High May 29

*RES 1: 137.46 High Jun 11

*PRICE: 137.32 @ Close Jun 11

*SUP 1: 136.78 Low Jun 11

*SUP 2: 135.56 Low Jun 10 and key near-term support

*SUP 3: 135.05 Low Jun 5 and the bear trigger

*SUP 4: 134.89 2.236 projection of May 22 - 27 swing from May 29 high

Gilts rallied sharply higher again yesterday. This week's gains have confirmed a

clear reversal of the recent downleg and scope is seen for a continuation of the

current positive theme. A continued push higher would open 137.34, May 29 high

and if breached the key resistance and bull trigger at 138.02, May 22 high. On

the downside, initial support lies at yesterday's low of 136.78 however a break

of 135.56, Jun 10 low is required to reinstate a bearish theme.