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(Z17) Bulls Need Close Above 55-DMA......>

GILT TECHS
GILT TECHS: (Z17) Bulls Need Close Above 55-DMA
*RES 4: 127.61 Low Sept 8 now resistance 
*RES 3: 127.18 Low Sept 11 now resistance 
*RES 2: 126.80 Low Aug 24 now resistance 
*RES 1: 125.93 55-DMA
*PREVIOUS CLOSE: 124.95
*SUP 1: 124.91 Low Sept 14 
*SUP 2: 124.71 Monthly Low July 7 
*SUP 3: 124.35 Low Feb 6 
*SUP 4: 123.17 Low Feb 2
*COMMENTARY: The dramatic correction from 128.24 saw the contract gain traction
below the 55-DMA and immediate pressure on the 124.71 support. Bears look for a
close below this level to add weight to the case for a move back to 122.60 2017
lows. The Bollinger base (125.73) is the key concern for bears with potential to
limit follow through. Bulls now need a close above the 55-DMA to ease bearish
pressure and above 127.18 to shift focus higher.

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