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(Z9) Downtrend defined *RES 4: 134.12....>

GILT TECHS
GILT TECHS: (Z9) Downtrend defined
*RES 4: 134.12 High Sep 6
*RES 3: 133.27 High Sep 12
*RES 2: 132.52 Trendline resistance drawn off the Sep 3 high
*RES 1: 132.04 High Sep 13
*PRICE: 131.161 @ Close Sep 13
*SUP 1: 131.05 Low Sep 13
*SUP 2: 130.66 1.00 projection of Sep 3 - Sep 5 decline from Sep 6 high
*SUP 3: 130.00 Round number support
*SUP 4: 129.82 1.618 projection of Sep 6 - Sep 11 rally from Sep 12 high
Z9 Gilt selling pressure dominated again Friday. The clear breach of former
support at 132.44, Sep 5 low has confirmed a price sequence of lower lows and
lower highs, confirming a downtrend. MA studies are in a bear mode and price
action has also cleared the important 50-day EMA that in an uptrend highlights
an important area of support. The focus is on 130.66, 1.00 projection of Sep 3 -
Sep 5 decline from Sep 6 high. Resistance is at Friday's 132.04 high.

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