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(M3) Fades Off Monday High

  • RES 3: 151.13 - High Mar 3
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5
  • RES 1: 149.53 High Mar 20
  • PRICE: 148.23 @ 15:57 BST Mar 30
  • SUP 1: 144.93 - Low Mar 9
  • SUP 2: 144.15 - Low Jan 13
  • SUP 3: 143.86 - 1.0% 10-dma envelope

JGBs traded well early Monday, holding the bulk of the gains posted through to the Friday close. The Mar02 high at 147.07 has been broken (and then some), working against the over-arching downtrend. This opens 149.53 as the first resistance. Nonetheless, rallies remain sold ahead of this upside level and any resumption of weakness would expose next support at the Jan 13 low on the continuation contract at 144.15 for direction.

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