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(Z18) Setbacks Increasingly Limited .....>

GILT TECHS
GILT TECHS: (Z18) Setbacks Increasingly Limited 
*RES 4: 124.27 High July 20 (continuation chart) 
*RES 3: 124.07 High Aug 17 (continuation chart) 
*RES 2: 123.59 High Sep 4 (continuation chart) 
*RES 1: 123.40 High Nov 15 
*PREVIOUS: CLOSE 122.75 
*SUP 1: 122.47 High Nov 12 
*SUP 2: 121.12 Low Nov 8 
*SUP 3: 120.10 High Oct 8 
*SUP 4: 119.81 Low Oct 12 
DEC 18 Gilts have maintained the recent range, but setbacks are becoming
increasingly shallow, keeping the focus on the upside. Although initial up
trendline support has been breached, the sideways consolidation pattern remains
in place. A move below the 122.47 would be needed to turn the technical picture
bearish. Initial resistance is placed at 123.06, a move above here stabilises
the picture once again.

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