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GILT TECHS: (Z9) Under pressure
*RES 4: 136.00 Round number resistance
*RES 3: 135.90 Contract high Sep 4
*RES 2: 134.79 High Sep 9
*RES 1: 134.08 High Sep 5
*PRICE: 132.92 @ Close Sep 5
*SUP 1: 132.44 Low Sep 5
*SUP 2: 132.30 50-day EMA
*SUP 3: 132.00 Round number support
*SUP 4: 131.10 1.382 retracement of the Aug 23 - Sep 3 rally
Z9 Gilt experienced strong selling pressure once again yesterday trading to a
low just above the 132.43 key support, the low of Aug 23. Price action is also
approaching the 50-day EMA, an average that highlights an area of support in
line with the broader uptrend. The EMA intersects at 132.30. A move below 132.43
and 132.30, would confirm a resumption of this weeks selling pressure and open
132.00. Initial resistance is at yesterday's high of 134.08.