(U9) Trendline support holding *RES 4:...>

GILT TECHS: (U9) Trendline support holding

*RES 4: 132.45 4.6180 Fibonacci projection of the 130.04-130.55 move from 130.10

*RES 3: 132.45 U9 contract high Jul 4

*RES 2: 132.00 High Jul 7

*RES 1: 131.23 High Jul 10

*PRICE: 131.32 @ Close Jul 10

*SUP 1: 130.89 Low Jul 10

*SUP 2: 130.88 Trendline support drawn off the May 21 low

*SUP 3: 130.69 Low Jul 2

*SUP 4: 130.04 Low Jun 27

U9 Gilt traded close to its channel support yesterday at 130.78 touching a low

of 130.89. This was also just below 130.95, the former breakout point and Jun 25

high. Momentum studies remain bearish. However if we are to see a deeper

sell-off materialise, a break of the trendline support is required. This would

open the 130.00 handle. On the upside, if the trendline holds and resistance at

132.00 is breached, a bullish theme will likely return and expose 132.45.