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(U18) Decline Nears A Test To Lower 1%...>

GILT TECHS
GILT TECHS: (U18) Decline Nears A Test To Lower 1% Volatility Band
*RES 4: 122.80/81 May 29, May 31 lows, now resistance
*RES 3: 122.43 Jun 5 low, now resistance
*RES 2: 122.16/18 Hourly basing area Jun 6, now resistance
*RES 1: 121.98 Hourly resistance
*PRICE: 121.53 @1505GMT 
*SUP 1: 121.46/51 1% volatility band, intraday low
*SUP 2: 121.16 76.4% Fibo of 120.01-124.67
*SUP 3: 121.09 61.8% Fibo of 118.87-124.67
*SUP 4: 120.93 May 21 high, now support
*COMMENTARY* Failure to move back above 123.00 this week has been the catalyst
for the increased fall, firstly below previous 122.43 support and then the
121.86-121.77 area at today's open. This sees the decline approaching the lower
1% volatility band at 121.46, the protection against a further 121.16-121.09
fall. As a result, resistance now from between 121.98-122.18 but back above that
122.43 required before any belief in a recovery will appear.

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