(U18) 122.67-122.55 Support The Key To...>

GILT TECHS: (U18) 122.67-122.55 Support The Key To Direction

*RES 4: 124.00 1.618 swing of 123.49-122.67

*RES 3: 123.88 76.4% Fibo of 124.67-121.33

*RES 2: 123.75 1.618 swing of 123.19-122.28

*RES 1: 123.49/52 Jul 3, May 31 highs

*PRICE: 123.24 @0926GMT 

*SUP 1: 122.80 Jul 5 low

*SUP 2: 122.67 Jun 29 low

*SUP 3: 122.55/57 Jun 22, Jun 25 lows

*SUP 4: 122.25/28 Jun 13 high, Jun 21 low

*COMMENTARY* Has had another go at trying to surpass the May 31 high at 123.52

but has again been frustrated at the slightly lower 123.49 level. All is not

lost however, while 122.67-122.55 support continues to hold up. Only a loss of

the latter would suggest that a deeper correction is due, most likely of the

gains seen from the Jun 12 base at 121.33. Meanwhile, above 123.52 would open

the door to a higher 123.75-124.00 rise.