(Z17) 123.96 Break Opens Way For.........>

GILT TECHS: (Z17) 123.96 Break Opens Way For Higher 124.22-124.55 Bounce

*RES 4: 124.69 Oct 23 high

*RES 3: 124.50/55 Hourly congestion area Oct 20-23

*RES 2: 124.40 Oct 18 low, now resistance

*RES 1: 124.22/27 Oct 20 low, Oct 25 high

*PRICE: 124.05 @0851GMT

*SUP 1: 123.78 Hourly high Oct 26, now support

*SUP 2: 123.44/46 Hourly basing area Oct 26

*SUP 3: 123.12/17 Sep 28, Oct 25 lows

*SUP 4: 123.06 1% volatility band

*COMMENTARY* Found support at 123.17 on Wednesday, this just above the Sep 28

low at 123.12 and the lower 1% volatility band. The subsequent recovery, aided

by some near term oversold conditions, has now broken back above the pivotal

123.96 level. This sees the potential to increase gains and the correction, into

124.22-124.27 next. As a result, support also rises to 123.78 initially and then

backed up by 123.44-46. Through 124.27 and the 124.40-124.55 area next.