Free Trial

(M9) Unable to Snap Free of 50-dma *RES...>

JGB TECHS
JGB TECHS: (M9) Unable to Snap Free of 50-dma
*RES 3: 153.34 - Mar28 High
*RES 2: 153.01 - Apr11 High
*RES 1: 152.85 - 76.4% 153.01 - 152.32
*PRICE: 152.83 @ 16:16 BST, May 13
*SUP 1: 152.39 - 2% Lower Bollinger Band
*SUP 2: 152.33 - 6 March Low
*SUP 3: 151.97 - 38.2% 149.75 - 153.34
JGB futures traded either side of the 50-dma for a sixth consecutive session
Monday, with neither bulls nor bears able to snap prices convincingly in either
direction. Medium-term momentum keeps JGB bulls in control, but this is fading.
Prices do continue to hold just north of the 50-dma at 152.78 for much of the
session. To the upside, 152.94 Fib resistance is the first target, followed by
the Mar28 high at 153.01. A break below the 100-dma at 152.64 will be needed to
re-assert any bearish outlook.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.