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(U18) Weak Short-Term Outlook *RES 4:.....>

JGB TECHS: (U18) Weak Short-Term Outlook
*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: 150.55 - 50-DMA (Generic)
*PRICE: 150.25 @ 1717 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 technical outlook 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 JGB futures, and the contract 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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