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(Z18) Downtrend Extends *RES 4: 124.27...>

GILT TECHS
GILT TECHS: (Z18) Downtrend Extends
*RES 4: 124.27 High Jul 17 (continuation chart) 
*RES 3: 123.15 High Oct 29 
*RES 2: 122.64 High Oct 31 
*RES 1: 121.83 100-dma 
*PREVIOUS CLOSE: 121.19 
*SUP 1: 120.80 Low Oct 22 
*SUP 2: 120.51 Low Oct 16 
*SUP 3: 120.10 High Oct 8 
*SUP 4: 119.81 Low Oct 12 
The well-defined downtrend in Gilt futures extended yesterday as the Oct 22 low
at 120.80 now come into focus. Below here would open the Oct 16 low at 120.51
ahead of a return to the cycle lows seen on Oct 12 just below 112. A recovery
back above the 100-dma at 121.83 is needed to improve the outlook. Above here
would open the Oct 31 high at 122.64 ahead of the Oct 29 high at 123.15.

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