(U9) Key hurdle is at 131.55/57 *RES.....>

GILT TECHS: (U9) Key hurdle is at 131.55/57

*RES 4: 132.45 High Jul 4 and key bull trigger

*RES 3: 132.00 High Jul 8

*RES 2: 131.57 61.8% retracement of the Jul 4-Jul 12 sell-off

*RES 1: 131.55/56 Former bull channel support drawn off May 21 low/High Jul 19

*PRICE: 131.49 @ Close Jul 19

*SUP 1: 131.05 Low Jul 18

*SUP 2: 130.52 Low Jul 16

*SUP 3: 130.14 Low Jul 12 and key bear trigger

*SUP 4: 130.04 Low Jun 27

U9 Gilt remains firm. Prices on Friday traded at the former channel base that

today intersects at 131.55. The channel is drawn off the May 21 low and was

breached on Jul 11. Note, 131.57 is 61.8% of the move between Jul 4-Jul 12 and

an important resistance. A break above131.55/57 would be a positive development

signalling potential for stronger gains and open 132.00. A failure to clear the

former channel base however would increase the risk prices reverse lower.