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(U9) Holding above trendline support.....>

GILT TECHS
GILT TECHS: (U9) Holding above trendline support
*RES 4: 136.45 2.618 projection of Jun 27--Jul 4 rally from Jul 12 low
*RES 3: 135.88 2.382 projection of Jun 27--Jul 4 rally from Jul 12 low
*RES 2: 135.01 Contract high Aug 7 and bull trigger
*RES 1: 134.69 High Aug 13
*PRICE: 134.30 @ Close Aug 13
*SUP 1; 133.79 Trendline support drawn off the Jul 12 low
*SUP 2: 133.73 Low Aug 8
*SUP 3: 132.45 High Jul 4
*SUP 4: 132.00 61.8% of the Jul 12-Aug 7 rally
U9 Gilt rallied yesterday but failed to hold onto its highs. Recent price action
continues to highlight the risk for a correction near-term. An inverted hammer
candle formation on Aug 7 is still valid. This is a strong bearish signal and is
reinforced by overbought momentum conditions. Key short-term support lies at
133.79/73, trendline support and the Aug 8 low. A break would open up scope for
a deeper pullback. 135.01 is the trigger for a resumption of the bull trend.

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