(Z17) 131.56 Support Holds Clues As To...>

BOBL TECHS: (Z17) 131.56 Support Holds Clues As To Near Term Direction

*RES 4: 132.17 1.618 swing of 131.76-131.09

*RES 3: 132.15 0.5% volatility band

*RES 2: 131.98 Sep 8 high

*RES 1: 131.85 Oct 27 high

*PRICE: 131.73 @1228GMT

*SUP 1: 131.56/57 Hourly support

*SUP 2: 131.47 Hourly base Oct 26

*SUP 3: 131.38 Minor hourly congestion area Oct 26

*SUP 4: 131.26 Oct 20 low

*COMMENTARY* The recovery from last week's 131.09 low has now stretched up above

the Oct 17 high at 131.76. A high of 131.85 so far, before falling foul of some

near term overbought conditions. In this respect, look to 131.56-57 for initial

support and as to clues as to whether a deeper correction of these recent gains

is required. If so, then 131.47-131.26 then becomes possible. Above 131.85 and

the Sep 8 high at 131.98 then becomes the next focus.