(Z17) Bulls Need Close Above 131.64......>

BOBL TECHS: (Z17) Bulls Need Close Above 131.64

*RES 4: 131.87 Hourly resistance Sept 8 

*RES 3: 131.74 Low Sept 11 now resistance 

*RES 2: 131.64 Alternating hourly support/resistance 

*RES 1: 131.60 High Sept 14

*PREVIOUS CLOSE: 131.42

*SUP 1: 131.32 Low Sept 14

*SUP 2: 131.27 Low Aug 25, Daily Bull channel base

*SUP 3: 131.12 Low Aug 18

*SUP 4: 131.07 100-DMA

*COMMENTARY: Bears take comfort in lower daily lows but support emerging on

approach to the bull channel base is less than ideal. Bears look for a close

below 131.27 to confirm a break of the channel base and below the 100-DMA to

hint at a deeper sell-off initially targeting the 55-DMA (130.84). The 131.64-87

resistance remains key. Bulls need a close above 131.64 to ease bearish pressure

and above 131.87 to shift focus back to the channel top (132.16).