June 05, 2024 22:45 GMT
(M4) Bear Phase Hits Pause
JGB TECHS
- RES 3: 148.74 - High Jul 24
- RES 2: 147.74 - High Jan 15 and bull trigger
- RES 1: 145.95 - High Mar 25
- PRICE: 143.91 @ 16:20 BST Jun 5
- SUP 1: 142.85 - Low May 30
- 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
A bear trend in JGB futures has paused, with prices recovering after the latest bout of weakness. The contract traded through key support at 143.44, the Nov 1 low, exposing 142.13 and below. A stronger reversal higher is required to signal the end of the recent downward phase. Key resistance is at 145.95, the Mar 28 high. A break would signal scope for a climb towards the bull trigger at 147.74, the mid-January high.
133 words