(U9) Inverted hammer still valid *RES....>

GILT TECHS: (U9) Inverted hammer still valid

*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

*RES 1: 134.53 High Aug 9

*PRICE: 134.28 @ Close Aug 9

*SUP 1; 133.73 Low Aug 8

*SUP 2: 133.48 Trendline support drawn off the Jul 12 low

*SUP 3: 132.45 High Jul 4

*SUP 4: 132.00 61.8% of the Jul 12-Aug 7 rally

U9 Gilt uptrend remains intact but price action over the past few sessions

highlights the risk for a correction near-term. An inverted hammer candle

formation on Aug 7 remains valid. This is a relatively strong bearish signal,

reinforced by momentum conditions that are in overbought territory. Key

short-term support is at 133.73, the Aug 8 low where a break would open up scope

for a deeper pullback. 135.01 is the trigger for a resumption of the bull trend.