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(M18) 130.40 Break Returns Focus To......>

BOBL TECHS
BOBL TECHS: (M18) 130.40 Break Returns Focus To 130.61-130.64
*RES 4: 131.03/07 50% Fibo of 132.70-129.36, Jan 8 high
*RES 3: 130.98 0.5% volatility band
*RES 2: 130.89 Jan 2 low, now resistance
*RES 1: 130.61/64 Jan 22 high, 38.2% Fibo of 132.70-129.36
*PRICE: 130.58 @1600GMT
*SUP 1: 130.30/38 Hourly support
*SUP 2: 130.19/21 Hourly congestion Mar 8, Mar 9 low
*SUP 3: 130.05 Mar 6 low
*SUP 4: 129.84 Mar 8 low
*COMMENTARY* The move through 130.28 late last month gave the upside some near
term impetus, reaching a high of 130.57 last week, 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 through 130.40 encourages and focus is again back on 130.61-130.64.

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