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

GILT TECHS
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.

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