(U18) Supported While The................>

GILT TECHS: (U18) Supported While The 122.90-122.55 Area Holds Up

*RES 4: 124.32 1% volatility band

*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: 123.10 @1559GMT 

*SUP 1: 122.88/90 Hourly support, Jul 3 low

*SUP 2: 122.55/57 Jun 22, Jun 25 lows

*SUP 3: 122.25/28 Jun 13 high, Jun 21 low

*SUP 4: 122.16 61.8% Fibo of 121.33-123.49

*COMMENTARY* 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 122.90-122.55 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. Directly through 123.52 and look to

123.75-123.88 for next potential targets.