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(U9) Trendline support breached *RES.....>

GILT TECHS
GILT TECHS: (U9) Trendline support breached
*RES 4: 136.00 Round number resistance
*RES 3: 135.88 2.382 projection of Jun 27-Jul 4 rally from Jul 12 low
*RES 2: 135.34 Contract high Aug 15
*RES 1: 134.63 High Aug 19
*PRICE: 134.38 @ Close Aug 19
*SUP 1: 134.27/25 Trendline support drawn off the Jul 12 low / Low Aug 16
*SUP 2: 133.99 Low Aug 19
*SUP 3: 133.73 Low Aug 8
*SUP 4: 133.33 Low Aug 2
The sell-off Friday and yesterday in U9 Gilt has resulted in a breach of
trendline support at 134.27, drawn off the Jul 12 low. Despite recovering off
yesterday's low, the trendline breach is an important S/T development in that it
highlights a top and signals scope for a correction. A break below 133.99 would
open 133.73 next, the Aug 8 low. Bears would have momentum on their side as the
overbought condition unwinds. Key resistance and bull trigger remains 135.34.

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