(H18) Correction Reaches Toward 61.8%....>

BOBL TECHS: (H18) Correction Reaches Toward 61.8% Fibo Retrace Level

*RES 4: 131.72 Jan 11 high

*RES 3: 131.61 76.4% Fibo of 131.82-130.92

*RES 2: 131.52 Jan 10 low, now resistance

*RES 1: 131.48 61.8% Fibo of 131.82-130.92

*PRICE: 131.29 @1610GMT

*SUP 1: 131.26 Intraday low

*SUP 2: 131.12/15 Congestion area Jan 15-19

*SUP 3: 131.05 Jan 18 low

*SUP 4: 130.92 Sep 28, Jan 12 lows

*COMMENTARY* The consolidation has been broken today by the rise through

131.35-131.43 resistance. This now allows some further correction of the

131.82-130.92 losses sustained this year. Next up, is likely to be the 61.8%

Fibo retrace level at 131.48, ahead of the 131.52-131.61 area. Will need to

sustain gains back above the latter to switch overall bias to higher. Meanwhile,

look to 131.26 for initial support, 131.12-131.05 of more importance lower.