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JGB TECHS: (U4) Retreats Off June Highs

JGB TECHS
  • RES 3: 148.74 - High Jul 24 (cont)
  • RES 2: 147.74 - High Jan 15 and bull trigger (cont)  
  • RES 1: 144.88/145.95 - High May 8 / High Mar 25
  • PRICE: 142.66 @ 16:18 BST Jun 28
  • SUP 1: 142.49 - Low June 28
  • SUP 2: 142.06 - 1.0% 10-dma envelope
  • SUP 3: 141.65 - 1.00 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

Prices faded across the week, putting pressure on nearby support and prompting a poor weekly close. The break lower from here has seen 142.85 - the late May low - give way, with the 142.06 1.0% 10-dma envelope and 142.00 handle and 141.65 further out - a Fibonacci projection. Key resistance remains at 145.95, the Mar 28 high, off which prices have faded into mid-week.  

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