(Z17) Immediate Focus On Channel Top.....>

BOBL TECHS: (Z17) Immediate Focus On Channel Top

*RES 4: 132.24 Low May 23 now resistance 

*RES 3: 132.07 Low May 16 now resistance 

*RES 2: 131.95 Daily Bull channel top A 

*RES 1: 131.87 High Sept 5

*PREVIOUS CLOSE: 131.83

*SUP 1: 131.77 Hourly resistance Sept 5 now support

*SUP 2: 131.65 Hourly support Sept 5

*SUP 3: 131.53 Low Sept 5, Daily bull channel base B

*SUP 4: 131.42 Low Sept 1

*COMMENTARY: The recovery from last week's low resulted in an aggressive rally

and bullish close Tuesday that reconfirmed the bullish bias and initial focus on

the channel top. Initial support is noted at 131.77 but bears look for a close

below 131.65 to confirm an easing of bullish pressure and a shift in focus to

131.27-42. Bulls now need a close above the daily bull channel top to initially

target 132.07-24. The Bollinger top (131.83) is the key concern for bulls.