(U18) 131.77-131.74 Becomes Key Near.....>

BOBL TECHS: (U18) 131.77-131.74 Becomes Key Near Term Support

*RES 4: 132.27/29 Jul 18, Jul 20 highs 

*RES 3: 132.20 Initial pullback low Jul 13, now resistance

*RES 2: 132.12 Hourly high Jul 20

*RES 1: 132.02/04 Hourly resistance, Jul 23 high

*PRICE: 131.93 @1450GMT

*SUP 1: 131.74/77 38.2% Fibo of 130.78-132.33, Jun 29 low

*SUP 2: 131.56/60 50% Fibo of 130.78-132.33, Jun 18 low

*SUP 3: 131.40 0.5% volatility band

*SUP 4: 131.37 61.8% Fibo of 130.78-132.33

*COMMENTARY* The 132.30 area has continued to prove a tough opponent over the

last month. Highs of 132.33 on Jul 2 and Jul 13 are the best it has got so far.

A continued move towards the 76.4% Fibo retrace level at 132.45 and the swing

target at 132.63, are now on hold. While capped around 132.30-132.33, there will

be scope for a pullback, key support now coming from 131.77-131.74. Meanwhile,

132.02-132.12 provides nearest resistance.