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

BOBL TECHS: (H18) Further Recovery Hopes Pinned On 131.54-131.43 Support

*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: 131.82 Jan 8 high

*PRICE: 131.71 @0922GMT

*SUP 1: 131.54 Jan 4 low

*SUP 2: 131.43 Dec 27, Jan 2 lows

*SUP 3: 131.26 1.618 swing of 131.43-131.71

*SUP 4: 131.24 50% Fibo of 129.74-132.74

*COMMENTARY* This year's recovery has popped above 131.76, a high of 131.82 so

far on Monday, before encountering some near term overbought conditions but

there is still good support stacking up from above the recent 131.43 lows. In

this respect the Jan 4 low at 131.54 now provides immediate protection to the

downside. Above 131.82 and further corrective opportunities allow a higher

131.91-132.24 rise.