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(U17) Fresh Surge Threatens Break........>

GILT TECHS
GILT TECHS: (U17) Fresh Surge Threatens Break Above 1% Volatility Band
*RES 4: 129.19 Jun 14 high
*RES 3: 128.68 Jun 21 high
*RES 2: 128.40 Jun 26 high
*RES 1: 128.20/24 1% volatility band, intraday high
*PRICE: 127.84 @1458GMT
*SUP 1: 127.45/56 Hourly support, Aug 9 high
*SUP 2: 127.21 Aug 10 low
*SUP 3: 126.95/06 Aug 8-9 gap, now support
*SUP 4: 126.49/54 Jul 28 high, Aug 4 low
*COMMENTARY* A fresh upside push today, which has left the 76.4% Fibo retrace at
128.13 behind and is now threatening the upper 1% volatility band at 128.20. A
high of 128.24 so far before retreating on the back of some near term overbought
conditions. In this respect, look to 127.56-127.45 to form an initial support
area, ahead of yesterday's 127.21 low. Loss here would be a concern. Directly
above 128.20-24 and a series of June highs follow.

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