TECHS: (H0) Tepid Bounce *RES 4: 150.00........>

BTPS: TECHS: (H0) Tepid Bounce

*RES 4: 150.00 Psychological round number

*RES 3: 149.72 3.618 projection of Jan 2 - Jan 10 rally from Jan 22 low

*RES 2: 149.00 Round number resistance

*RES 1: 148.97 High Feb 13 and near-term bull trigger

*PRICE: 148.03 @ Close Feb 20

*SUP 1: 147.11 Low Feb 6 and key support

*SUP 2: 146.56 Low Jan 28

*SUP 3: 145.55 Low Jan 27 and gap low on daily chart

*SUP 4: 144.71 High Jan 24 and gap high on daily chart

After finishing at the lows Wednesday, Thursday trade saw much of these losses

recouped but a worthwhile recovery failed to materialise. This keeps key support

in tact at 147.11. If this gives way, bears will be eyeing 146.56 and 145.55 for

medium-term direction. The drop lower runs counter to some of the more bullish

technical signals that have emerged, which need to press markets above 148.53

initially before the picture improves.