(U17) Rally Trying To Break Free Of......>

GILT TECHS: (U17) Rally Trying To Break Free Of Fibo Retrace At 127.48 

*RES 4: 128.68 Jun 21 high

*RES 3: 128.13 76.4% Fibo of 129.19-124.71

*RES 2: 127.96 1% volatility band

*RES 1: 127.48/56 61.8% Fibo of 129.19-124.71, Aug 9 high

*PRICE: 127.47 @1200GMT

*SUP 1: 126.95/06 Aug 8-9 gap, now support

*SUP 2: 126.81 Aug 8 low

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

*SUP 4: 126.05 Jul 26 high, congestion area Jul 28-Aug 2

*COMMENTARY* The recovery has now slightly exceeded 127.31, the swing target of

the recent 126.67-125.63 fall. Next up should be a test of the 61.8% Fibo

retrace level at 127.48. In the meantime, support also on the rise, initially

from the Aug 8-Aug 9 gap between 127.06-126.95 and then Tuesday's 126.81 base.

Any setback should hold above here, if further gains to be seen at this

juncture. The 1% volatility band at 127.96 then the next upside obstacle.