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(U9) Former channel base marks...........>

GILT TECHS
GILT TECHS: (U9) Former channel base marks resistance
*RES 4: 131.57 61.8% retracement of the Jul 4-Jul 12 sell-off
*RES 3: 131.39 High Jul 11
*RES 2: 131.17 Former bull channel support, drawn off the May 21 low
*RES 1: 130.91 High Jul 15
*PRICE: 130.84 @ Close Jul 15
*SUP 1: 130.14 Low Jul 12
*SUP 2: 130.04 Low Jun 27
*SUP 3: 129.98 Low Jun 19
*SUP 4: 129.81/80 50-day EMA / Low Jun 12
U9 Gilt extended the bounce off last Friday's 130.14 low yesterday. A key
resistance today is at 131.17, the former channel support turned resistance. The
channel is drawn off the May 21 low and was breached last week. A move above
131.17 would be a positive development signalling potential for a stronger
recovery towards 131.57 initially. While the former channel base holds though,
the risk remains that prices are likely to head lower near-term.

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