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(M9) A Clean Break Below 50-dma *RES 3:...>

JGB TECHS
JGB TECHS: (M9) A Clean Break Below 50-dma
*RES 3: 153.34 - Mar28 High
*RES 2: 152.94 - 38.2% 153.34 - 152.70
*RES 1: 152.82 - 50-dma
*PRICE: 152.61 @ 16:28 BST, Apr 12
*SUP 1: 152.57 - 76.4% 152.33 - 153.34
*SUP 2: 152.42 - 100-DMA
*SUP 3: 152.33 - 6 March Low
Bears looked firmly in control in JGB futures Friday, driving prices comfortably
below the 50-dma in what looks like a clean break. This switches downside
targets to the 76.4% Fib retracement for the 152.33 - 153.34 move at 152.57 and
a fall through here would open the 100-dma at 152.42. There's still a fair bit
of downside to go before JGBs begin to flash oversold, suggesting this move
could have some legs. A recovery above 153.01 is needed to stem the flow, before
bulls can begin to reconsider recent cycle highs at 153.34.

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