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(Z17) 124.36 Resistance Prevents.........>

GILT TECHS
GILT TECHS: (Z17) 124.36 Resistance Prevents Better Recovery At Present
*RES 4: 125.76 Hourly recovery high Sep 14
*RES 3: 125.21 Sep 15 high
*RES 2: 124.65 Sep 19 high
*RES 1: 124.35/36 Sep 26, Sep 20 highs
*PRICE: 123.66 @1138GMT
*SUP 1: 123.55/60 Hourly support
*SUP 2: 123.36 Sep 21 low
*SUP 3: 123.17 Feb 2 low
*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. A low last Thursday from 123.36, has so far
protected the Feb 2 low at 123.17. This the brake to the Jan 26 low at 122.60
and the 2% volatility band at the lower 122.36 level. In the interim, the move
back above 124.00 is encouraging but still likely requiring a move back above
last Wednesday's 124.36 high before the upside gets interesting again. 

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