(U17) Bears Need Close Below 127.52......>

GILT TECHS: (U17) Bears Need Close Below 127.52

*RES 4: 129.01 High June 15 

*RES 3: 128.68 High June 21 

*RES 2: 128.24 High Aug 11 

*RES 1: 128.05 High Aug 21

*PREVIOUS CLOSE: 127.62

*SUP 1: 127.58 Daily Bull channel base 

*SUP 2: 127.52 Low Aug 18 

*SUP 3: 127.22 Low Aug 16 

*SUP 4: 127.06 Low Aug 9

*COMMENTARY: Support emerging ahead of the 126.54-127.22 has provided the

catalyst for pressure to remain on the 128.24 resistance. Bulls continue to look

for a close above 128.24 to reconfirm the bullish bias and initially target

128.68-129.19. O/B daily studies remain a concern for bulls. In saying that,

bears still need a close below 127.52 to ease pressure on 128.24 and see focus

return to layers of support 126.54-127.22.