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(M18) 130.40 Becomes Pivotal To..........>

BOBL TECHS
BOBL TECHS: (M18) 130.40 Becomes Pivotal To Direction
*RES 4: 130.89 Jan 2 low, now resistance
*RES 3: 130.61/64 Jan 22 high, 38.2% Fibo of 132.70-129.36
*RES 2: 130.57 Mar 5 high
*RES 1: 130.40 Mar 6 high, 76.4% of 130.57-129.84
*PRICE: 130.30 @0830GMT
*SUP 1: 130.05/11 Hourly support
*SUP 2: 129.97 Initial recovery high Mar 8
*SUP 3: 129.84 Mar 8 low
*SUP 4: 129.81/82 Feb 22 low, 61.8% Fibo of 129.36-130.57
*COMMENTARY* The move through 130.28 late last month gave the upside some near
term impetus, reaching a high of 130.57 last Monday, just below the 38.2% Fibo
retrace at 130.64, as we continued to claw back some losses from the December
high at 132.70. The subsequent fall, aided by near term overbought conditions,
was deeper than anticipated, reaching towards 129.82-129.18 support. Subsequent
recovery will need to break 130.40 to get upside back on track.

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