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(U9) Eroding trendline support *RES 4:...>

GILT TECHS
GILT TECHS: (U9) Eroding trendline support
*RES 4: 136.00 Round number resistance
*RES 3: 135.88 2.382 projection of Jun 27-Jul 4 rally from Jul 12 low
*RES 2: 135.34 Contract high Aug 15
*RES 1: 135.15 High Aug 20
*PRICE: 134.66 @ Close Aug 21
*SUP 1: 134.25 Low Aug 21
*SUP 2: 133.99 Low Aug 19 and key support
*SUP 3: 133.73 Low Aug 8
*SUP 4: 133.33 Low Aug 2
The U9 Gilt focus is on the recent pullback off the Aug 15 high, that resulted
in a breach of its trendline support on Monday at 134.27 and saw further erosion
of the trendline yesterday. The trendline is drawn off the Jul 12 low. The
breach is an important short-term development, it highlights a top and signals
scope for a correction. A break of 133.99, the Aug 19 low would confirm this
scenario opening 133.73. Key resistance and bull trigger remains 135.34.

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