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(U18) Support Gives Way *RES 4:........>

GILT TECHS
GILT TECHS: (U18) Support Gives Way  
*RES 4: 127.00 Measured move from triangle breakout 
*RES 3: 124.67 High May 29 
*RES 2: 124.27 High July 20 
*RES 1: 124.07 High Aug 17 
*PREVIOUS CLOSE: 122.99
*SUP 1: 122.62 Low Aug 7 
*SUP 2: 122.28 Up trendline support from June lows 
*SUP 3: 121.99 Low Aug 2 
*SUP 4: 121.33 Low June 12 
Gilts sliced through their 21 and 55-dmas with ease yesterday as bears take firm
control and target the August 7 lows with an eye on the uptrend from the June
lows. The bigger picture looks bearish following the failure to break above
124.0 earlier this month. For bulls to regain control, the August 22 highs at
123.58 would need to be overcome, opening up a run at the August 17 high of
124.07.

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