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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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(U0): Still Under Pressure

  • RES 3: 153.06 - High Mar 31 and key resistance
  • RES 2: 152.61 - 200-dma
  • RES 1: 152.55 - High Aug 5
  • PRICE: 151.82 @ 16:03 BST, Aug 18
  • SUP 1: 151.57 - Low Jul 2 and key support
  • SUP 2: 151.26 - Jun 8 low
  • SUP 3: 150.61 - Low Mar 19 and key support

Despite topping the bull trigger at 152.53 last week, JGBs have faded fast, pressuring prices comfortably below the 152 handle. Any hopes for a momentum driven move higher have now been dashed, with markets resuming trade at the lower levels of the range. A break above the 200-dma is needed to open the 153 handle and levels not seen since March. Key support has been defined at 151.57, Jul 2 low.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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