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(Z17) Fall Nears 76.4% Fibo Retrace......>

GILT TECHS
GILT TECHS: (Z17) Fall Nears 76.4% Fibo Retrace Level At 123.87
*RES 4: 126.00 Sep 13 low, now resistance
*RES 3: 125.76 Hourly high Sep 14
*RES 2: 125.21 Sep 15 high
*RES 1: 124.78 Hourly resistance
*PRICE: 124.41 @1108GMT
*SUP 1: 124.00/07 Sep 15 low, 4 month bear channel base
*SUP 2: 123.87 76.4% Fibo of 122.08-129.68, 2% vol band
*SUP 3: 123.17 Feb 2 low
*SUP 4: 122.60 Jan 26 low
*COMMENTARY* The decline continued last Friday, reaching a low of 124.00, this
just beneath the 4 month bear channel base projection at 124.07. Not unnaturally
has become oversold on a near term basis but will need to see a move back above
firstly 124.78 and then more importantly Friday's 125.21 high before any
significant recovery will follow. Below 124.00 and the 76.4% Fibo retrace level
and 2% volatility band are at 123.87.

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