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

BOBL TECHS: (H18) Further Recovery Hopes Pinned On 131.52-131.43 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: 131.57 @1610GMT

*SUP 1: 131.52/54 76.4% of 131.43-131.82, 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 popped above previous 131.76 high to reach

131.82 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 131.54-131.52 area now provides immediate protection to the

downside. Above 131.82 and further corrective opportunities allow a higher

131.91-132.24 rise.