(U18) Outlook Remains Bearish *RES 4:.....>

JGB TECHS: (U18) Outlook Remains Bearish

*RES 4: 151.13 - High May 30 (Continuation chart)

*RES 3: 150.71 - 200-DMA (Continuation chart)

*RES 2: 150.58 - High Aug 22

*RES 1: 150.53 - 50-DMA (Continuation chart)

*PRICE: 150.36 @ 18:00 GMT, Sep 7

*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 remains bearish, though JGBs have recovered from the drop to a

three-week low of 150.20 on Sep 3. A medium-term bullish case would have to see

higher highs (represented by the Aug 22 high of 150.58) and higher lows in a

continued recovery triggered by the Aug 2 daily reversal, but this would first

require a move through 50-DMA at 150.53. That would opening a cluster of moving

average tests at 100-DMA at 150.66 and 200-DMA at 150.71.