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GILT TECHS
GILT TECHS: (Z17) Begins Correction Of Gains From Early July
*RES 4: 127.40 Congestion area Sep 5-Sep 6
*RES 3: 127.09/18 Overnight gap
*RES 2: 126.84/88 Sep 1, Sep 5 lows, now resistance
*RES 1: 126.55 Hourly resistance
*PRICE: 126.16 @1142GMT
*SUP 1: 125.90/03 1% volatility band, intraday low
*SUP 2: 125.63 61.8% Fibo of 124.01-128.24
*SUP 3: 125.01/05 61.8% Fibo of 124.01-128.24, Aug 2 low
*SUP 4: 124.64 2% volatility band
*COMMENTARY* A high of 128.24 attained last week but the rally lost some impetus
and has begun a correction of gains from the July low at 124.01. This has gained
momentum, with Tuesday's loss firstly of the Aug 25 and Sep 1 lows at 126.84 and
then from between 126.62-126.24. The lower 1% volatility band at 125.90 is now
the brake to an even deeper decline. Resistance 126.55 and then from
126.84-126.88, above the latter would gain some respite.

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