(H18) Recovery Still Needs A 130.80......>

BOBL TECHS: (H18) Recovery Still Needs A 130.80 Break For Impetus

*RES 4: 131.43/45 Dec 27, Jan 2 lows, Jan 23 high, 50% Fibo

*RES 3: 131.15/23 38.2% of 132.74-130.16, 0.5% vol band

*RES 2: 130.99/00 Feb 5 high, Jan 18 low

*RES 1: 130.80 Hourly congestion Feb 5-6

*PRICE: 130.77 @0820GMT

*SUP 1: 130.48 Feb 20 low

*SUP 2: 130.43 Feb 16 low

*SUP 3: 130.34 Feb 15 low

*SUP 4: 130.16 Feb 8 low

*COMMENTARY* Has traded a narrow range for a couple of weeks. Friday's move back

to the top of the range however, still lacks a 130.80 break. Will need to post

levels back above here before near term confidence in a recovery will appear and

allow 130.99-131.23 higher. The latter the 0.5% volatility band by time today,

just above the 38.2% Fibo retrace of the fall from the Dec 7 high at 132.74, at

131.15. Support initially from 130.48-130.43, loss of 130.34 would concern.