(Z17) 123.36 Support Gives Way As........>

GILT TECHS: (Z17) 123.36 Support Gives Way As Decline Continues

*RES 4: 125.21 Sep 15 high

*RES 3: 124.65 Sep 19 high

*RES 2: 124.35 Sep 26 high

*RES 1: 123.95/05 Hourly resistance

*PRICE: 123.35 @1143GMT

*SUP 1: 123.31/36 Intraday, Sep 21 lows

*SUP 2: 123.17 Feb 2 low

*SUP 3: 122.75 1.618 swing of 123.36-124.35

*SUP 4: 122.60 Jan 26 low

*COMMENTARY* Support from the 76.4% Fibo retrace level at 123.87 gave way, as

did the swing target at 123.60. Last Thursday's 123.36 low is now under

pressure, this the protection to the Feb 2 low at 123.17. This in turn the brake

to the swing target at 122.75 and the Jan 26 low at 122.60. In the interim, need

a move back above 123.95-124.35 before any interest in a recovery is likely to

show itself.