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(U18) Continuing To Lose Steam *RES 4:....>

JGB TECHS
JGB TECHS: (U18) Continuing To Lose Steam
*RES 4: 151.13 - High May 30 (Continuation chart)
*RES 3: 151.00 - High July 20
*RES 2: 150.80 - High July 31
*RES 1: 150.56 - 50-DMA (Generic)
*PRICE: 150.25 @ 1608 GMT
*SUP 1: 149.65 - Spike Low Jul 7, 17 (Continuation chart)
*SUP 2: 149.38 - Spike Low Dec 2, 16 (Continuation chart)
*SUP 3: 149.28 - Spike Low Feb 3, 17 (Continuation chart)
*SUP 4: 148.65 - High Jan 19, 15 (Continuation chart)
The outlook for the continuous JGB contract remains bearish, with the recovery
following the early August lows beginning to fade. The recent sell-off
accelerated Friday, prompting new cycle lows of 150.22 in Sep-18 futures, and
has recovered only slightly to 150.25. Bears look for a fall through the Jul 7
2017 spike low on the generic contract at 149.65 for a protracted move lower,
while bulls require a recovery above the 50-dma 150.56 to regain poise.

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