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(U9) Another day, another high *RES 3:....>

JGB TECHS
JGB TECHS: (U9) Another day, another high
*RES 3: 158.42 - Multi-year Up trendline Resistance
*RES 2: 155.08 - 3.0% Upper Bollinger Band
*RES 1: 154.78 - Cycle High
*PRICE: 154.71 @ 20:24 GMT, Aug 8
*SUP 1: 154.20 - 23.6% 152.32 - 154.78
*SUP 2: 153.73 - 50-dma
*SUP 3: 153.28 - 100-dma
JGB futures up 6 of the last 7 sessions posted fresh cycle highs of 154.78,
before fading. Technical indicators remain stretched, particularly on the RSI &
MACD studies. Vol band resistance to the upside continues to work well and
becomes the next target, currently sitting at 154.78, ahead of the psychological
155-00 level. To the downside, a break and close below Fib support at 154.20
would work in favour of bears, before challenging the 50-dma and the mid-May
lows of 152.69.

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