(U18) Pullback Has Eyes On Pivotal.......>

GILT TECHS: (U18) Pullback Has Eyes On Pivotal 123.19-123.15 Support

*RES 4: 124.27 Jul 20 high

*RES 3: 124.03 Hourly base Jul 20, now resistance 

*RES 2: 123.70 Intraday high

*RES 1: 123.51/58 Hourly resistance

*PRICE: 123.25 @1548GMT 

*SUP 1: 123.15/19 38.2% 121.33-124.27, 76.4% 122.85-124.27

*SUP 2: 122.85 Jul 16 low

*SUP 3: 122.76/80 Jul 9 low, 50% Fibo of 121.33-124.27

*SUP 4: 122.45 61.8% Fibo of 121.33-124.27

*COMMENTARY* Last week finally broke through resistance from the 123.49 level

which had capped rallies all month long. A quick rise to 124.27 followed, before

suffering a setback on Friday. As a result, attention switched once again to

123.47 but this time for support. Today's sustained move lower sees the

123.19-123.15 area now become pivotal to direction. In the meantime,

123.51-123.70 bars the way to any near term revival.