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(Z9) Focus Is Back On The Hammer *RES....>

GILT TECHS
GILT TECHS: (Z9) Focus Is Back On The Hammer
*RES 4: 133.55 High Oct 11
*RES 3: 132.95 High Oct 15
*RES 2: 132.84 50-day EMA
*RES 1: 132.28 High Oct 17
*PRICE: 131.97 @ Close Oct 22
*SUP 1: 130.80 Low Oct 17
*SUP 2: 130.39 1.000 projection of Sep 3 - Sep 13 decline off Oct 8 high
*SUP 3: 130.00 Round number support
*SUP 4: 129.25 1.236 projection of Sep 3 - Sep 13 decline off Oct 8 high
Z9 Gilt was firmer yesterday and has held above last weeks low of 130.80.
Attention is once again on the Japanese candle pattern on Oct 16, a hammer
formation that suggests a low in the downtrend has been identified and is a
potential reversal signal. Bears should be on the lookout for a recovery above
132.28, Oct 17 high that would reinforce this reversal threat. A breach of
130.80 is required to negate the candle pattern and resume the downtrend.

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