(H18) Further Recovery Hopes Pinned On...>

BOBL TECHS: (H18) Further Recovery Hopes Pinned On 131.43 Hold

*RES 4: 132.24 Dec 14 low, now resistance

*RES 3: 131.97 Nov 30 low, now resistance

*RES 2: 131.91 Dec 19 low, now resistance

*RES 1: 131.76 Dec 28, Jan 3 highs

*PRICE: 131.66 @1607GMT

*SUP 1: 131.43 Dec 27, Jan 2 lows

*SUP 2: 131.26 1.618 swing of 131.43-131.71

*SUP 3: 131.24 50% Fibo of 129.74-132.74

*SUP 4: 130.96 0.5% volatility band

*COMMENTARY* This week's recovery has so far faltered at 131.76 but there is

still good support stacking up from above the recent 131.43 lows. While intact,

there is scope for a fresh rally to develop and another challenge on 131.76,

above which corrective opportunities allow a higher 131.91-132.24 rise. A loss

of 131.43 will disappoint and suggest scope for a deeper 131.26-131.24 fall,

where next decent support lies.