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(U18) Initial Line Of Defence At.........>

BOBL TECHS
BOBL TECHS: (U18) Initial Line Of Defence At 131.05 Gives Way
*RES 4: 131.63/64 Jun 8 high, 76.4% of 131.86-130.92
*RES 3: 131.47/49 Hourly highs Jun 8
*RES 2: 131.33/34 Hourly base Jun 8, Jun 11 high
*RES 1: 131.12/17 Hourly resistance, hourly base Jun 11 
*PRICE: 131.06 @1510GMT
*SUP 1: 130.90/92 Intraday, Jun 7 lows
*SUP 2: 130.84 May 21 high, now support
*SUP 3: 130.75/79 76.4% Fibo of 130.06-132.97, 0.5% vol band
*SUP 4: 130.63 May 4 high, now support
*COMMENTARY* Last Thursday saw a fall to 130.92, just above the May 21 high at
130.84, this seen as the protection against a drop into the key 130.75-130.63
area. Oversold as a result but the 76.4% retrace at 131.64 quelled the rise on
Friday. The subsequent fall has lost support from 131.05 today, putting pressure
back on 130.92. Meanwhile, resistance from 131.12-131.17, above would help with
some correction of those losses from 131.64.

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