(U18) 123.19 Break Required To Allay.....>

GILT TECHS: (U18) 123.19 Break Required To Allay Corrective Fears

*RES 4: 123.75 1.618 swing of 123.19-122.28

*RES 3: 123.52/69 May 31 high, 1% volatility band

*RES 2: 123.39 61.8% Fibo of 124.67-121.33

*RES 1: 123.15/19 Intraday, Jun 19 highs

*PRICE: 122.90 @1610GMT 

*SUP 1: 122.48/55 Hourly support, Jun 22 low

*SUP 2: 122.25/28 Jun 13 high, Jun 21 low

*SUP 3: 122.05 Hourly congestion Jun 13-14

*SUP 4: 121.73 Jun 13 low

*COMMENTARY* The rise was halted at 123.19 last Tuesday, leaving us shy for the

time being of a test into the next Fibo resistance, the 61.8% retrace at 123.39.

In the meantime, the subsequent loss of 122.60 support raised concerns, this

really should have caught any near term pullback. Back below here again would

caution and allow a deeper setback of gains seen since the month's 121.33 base.

Back above 123.19 would allay these fears and allow an upside continuation.