May 28, 2024 22:45 GMT
(M4) Pierces Key Support
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 1
- PRICE: 143.47 @ 16:21 BST May 28
- SUP 1: 143.44 - Low Oct 31 (cont) and the bear trigger
- SUP 2: 143.38 - Low May 28
- SUP 3: 141.65 - 1.00 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing
A bear trend in JGB futures persists, with prices piercing the bear trigger on the latest bout of weakness. The contract for now is trading just above key support and bear trigger at 143.44, the Nov 1 low. 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.
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