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(H3) Trading Closer To Its Recent Lows

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5
  • RES 1: 148.79 High Nov 16
  • PRICE: 147.91 @ 16:58 GMT Dec 19
  • SUP 1: 147.64/38 - Low Dec 6 / Low Oct 21 (cont)
  • SUP 2: 147.07 - Low Jun 20
  • SUP 3: 145.05 - Low Jun 16 and a key support

JGB futures continue to trade below 149.75, the Nov 11 high on the continuation contract. Support at 148.24, the Oct 21 low (cont), has been cleared. This signals scope for weakness towards 147.38, the Oct 21 low (cont). For bulls, a reversal higher and a strong recovery would refocus attention on key resistance at 149.75. A break of this level would highlight a stronger medium-term reversal. First resistance is 148.79, the Nov 16 high.

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