(U9) Trades back into the bull channel...>

GILT TECHS: (U9) Trades back into the bull channel

*RES 4: 133.00 round number resistance

*RES 3: 132.45 High Jul 4 and key bull trigger

*RES 2: 132.00 High Jul 8

*RES 1: 131.82 High Jul 23

*PRICE: 131.77 @ Close Jul 22

*SUP 1: 131.05 Low Jul 18

*SUP 2: 130.52 Low Jul 16

*SUP 3: 130.14 Low Jul 12 and key support

*SUP 4: 130.04 Low Jun 27

U9 Gilt remains firm. Prices have traded back above the former channel base that

yesterday intersected 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

marked an important resistance. It too has been breached. The break of 131.55/57

is a bullish development signalling potential for stronger gains to 132.00 and

the 132.45 contract high. On the downside, support lies at 131.05.