(U17) 128.05 Break Needed To Revive......>

GILT TECHS: (U17) 128.05 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: 128.05 Aug 21 high

*PRICE: 127.67 @1022GMT

*SUP 1: 127.45/50 Hourly support

*SUP 2: 127.19/21 61.8% of 126.54-128.24, Aug 10 low

*SUP 3: 126.95/06 76.4% of 126.54-128.24, Aug 8-9 gap

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

*COMMENTARY* A fresh upside surge this month, which saw a rise to 128.24 on Aug

11, equivalent to a test to the upper 1% volatility band at the time. The

subsequent lower close that day however, created a potentially bearish 'Doji'

candle close on the daily chart. Meanwhile, support from above 127.19-127.21 has

so far withstood pressure but it is the 127.06-126.95 area that is currently of

more importance. 128-05 stands in the way of another upside challenge.