(Z17) 131.12 Fibo Support Under..........>

BOBL TECHS: (Z17) 131.12 Fibo Support Under Pressure 

*RES 4: 131.75/80 Congestion area Sep 8-Sep 11

*RES 3: 131.60 Sep 14 high

*RES 2: 131.49 Sep 15 high

*RES 1: 131.37/42 Hourly resistance

*PRICE: 131.15 @1513GMT

*SUP 1: 131.08/12 Intraday low, 38.2% Fibo of 129.72-131.98

*SUP 2: 130.98 Aug 2 high

*SUP 3: 130.90 Aug 16 low, 0.5% volatility band

*SUP 4: 130.85 50% Fibo of 129.72-131.98d

*COMMENTARY* Reached a high of 131.98 this month, before falling foul of some

overbought conditions. In this respect, last week's loss of 131.42 support,

switched near term bias back to the downside. Focus now becomes support around

the 38.2% Fibo retrace level at 131.12. This currently protecting against a

deeper 130.98-130.85 decline. Resistance comes from 131.37-131.42 but back above

Friday's 131.49 high needed for any real improvement.