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(Z17) Decline Extends, 124.00-124.36.....>

GILT TECHS
GILT TECHS: (Z17) Decline Extends, 124.00-124.36 Now Resistance 
*RES 4: 125.21 Sep 15 high
*RES 3: 124.65 Sep 19 high
*RES 2: 124.36 Sep 20 high
*RES 1: 124.00 Sep 15 low, now resistance
*PRICE: 123.69 @1215GMT
*SUP 1: 123.36 Intraday low
*SUP 2: 123.17 Feb 2 low
*SUP 3: 122.74 2% volatility band
*SUP 4: 122.60 Jan 26 low
*COMMENTARY* Support from the 76.4% Fibo retrace level at 123.87 has now given
way, as has the swing target at 123.60. A low on the day so far from 123.36, as
we head towards the Feb 2 low at 123.17. This the possible brake to a test to
the lower 2% volatility band at the lower 122.74 level. In the interim, look to
the Sep 15 low at 124.00 for initial resistance but likely requiring a move back
above yesterday's 124.36 before the upside gets interesting again. 

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