(U17) 128.00 Break Needed To Revive......>

GILT TECHS: (U17) 128.00 Break Needed To Revive Upside Hopes

*RES 4: 128.68 Jun 21 high

*RES 3: 128.40 Jun 26 high

*RES 2: 128.24 Aug 11 high

*RES 1: 127.95/00 Hourly resistance

*PRICE: 127.69 @1154GMT

*SUP 1: 127.19/21 61.8% of 126.54-128.24, Aug 10 low

*SUP 2: 126.95/06 76.4% of 126.54-128.24, Aug 8-9 gap

*SUP 3: 126.49/54 Jul 28 high, Aug 4 low

*SUP 4: 126.20/25 6 week suppt line, 76.4% of 125.63-128.24

*COMMENTARY* A fresh upside surge last week, which saw a challenge toward upper

1% volatility band at the time and a high of 128.24. The subsequent lower close

on that day however, has created a potentially bearish 'Doji' candle close on

the daily chart. Support from 127.19-127.21 has so far withstood pressure but it

is the 127.06-126.95 area that is currently of more importance. Meanwhile 128.00

stands in the way of another upside challenge.