(Z17) Holding Above The 8 Week Rising....>

GILT TECHS: (Z17) Holding Above The 8 Week Rising Support Line

*RES 4: 128.58 1% volatility band

*RES 3: 128.44 1.618 swing of 127.83-126.84

*RES 2: 128.21/24 Jun 14 high, 8 week bull channel top

*RES 1: 127.83 Aug 29 high

*PRICE: 127.37 @1102GMT

*SUP 1: 127.05/15 Hourly support

*SUP 2: 126.81/84 8 week support line, Aug 25, Sep 1 lows

*SUP 3: 126.49 Aug 23 low

*SUP 4: 126.37 38.2% Fibo of 124.01-127.83

*COMMENTARY* Tried to take advantage of last week's break above the 76.4% Fibo

retrace level at 127.22. A high of 127.83 attained but the rally lost some

impetus over the course of the last few days, with the loss of support from the

Aug 21 high at 127.03. Has however held above the 8 week support line at 126.81.

The subsequent rally back above 127.60 was encouraging for another challenge to

127.83 but this has yet to develop.