(Z18) Downside Break looking Likely......>

GILT TECHS: (Z18) Downside Break looking Likely

*RES 4: 123.19 High July 19 

*RES 3: 123.11 High Aug 17 

*RES 2: 122.74 High Sep 4

*RES 1: 122.52 High Sep 6  

*PREVIOUS CLOSE: 121.94 

*SUP 1: 121.72 Low Aug 29

*SUP 2: 121.23 Low Aug 1

*SUP 3: 120.89 Low May 17 (continuation chart) 

*SUP 4: 120.73 Low Apr 25 (continuation chart) 

Bears remain in the driving seat in the Dec-18 Gilt with the break below the Sep

5 lows yesterday on an intraday basis keeping the focus to the downside. The

next downside target comes in at the Aug 29 low of 121.72 and a break below here

would suggest a larger bearish reversal pattern is playing out. Bulls require a

break above the Sep 6 high of 122.52 to shift the outlook back to neutral and a

break above the Sep 4 high of 122.74 to give bulls the upper hand.