(H18) Rally Approaches 131.00-131.17.....>

BOBL TECHS: (H18) Rally Approaches 131.00-131.17 Resistance

*RES 4: 131.43/45 Dec 27, Jan 2 lows, Jan 23 high

*RES 3: 131.21 38.2% Fibo of 132.74-130.26

*RES 2: 131.17 76.4% Fibo of 131.45-130.26

*RES 1: 131.00/05 Jan 18 low, 61.8% Fibo of 131.45-130.26

*PRICE: 130.71 @0837GMT

*SUP 1: 130.48 Hourly base Feb 5

*SUP 2: 130.43 Hourly support

*SUP 3: 130.26 Feb 2 low

*SUP 4: 130.00/10 0.5% vol band, 38.2% Fibo of 122.34-134.89

*COMMENTARY* Continued to creep lower last week, eventually reaching 130.26,

before finding some support, aided by some near term oversold conditions. In

this respect, initial resistance between 130.55-130.63 has been breached,

allowing some correction of the most recent losses from 131.45. Looking at

131.00-131.17 for next clues, an area that also includes the 2 month falling

resistance line. Meanwhile, support rises to 130.48-130.43.