(Z17) 127.03 Support Becomes Pivotal.....>

GILT TECHS: (Z17) 127.03 Support Becomes Pivotal To Intraday Direction

*RES 4: 128.32 1% volatility band

*RES 3: 128.21 Jun 14 high

*RES 2: 127.83 Aug 29 high

*RES 1: 127.56/66 Hourly resistance

*PRICE: 127.32 @1058GMT

*SUP 1: 127.03 Aug 21 high, now support

*SUP 2: 126.82 Aug 25 low

*SUP 3: 126.49 Aug 23 low

*SUP 4: 126.24 Aug 16 low

*COMMENTARY* Trying to take advantage of the week's earlier break above the

76.4% Fibo retrace level at 127.22. A high of 127.83 already attained but the

rally has lost some impetus over the course of the last couple of days. Now

looking at support from the Aug 21 high at 127.03 to stem the tide and avoid a

deeper correction of recent gains from the Aug 16 low at 126.24. In the interim,

127.56-127.66 becomes the bar to any fresh upside interest at present.