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(U9) Plays the Range *RES 3: 154.01 -.....>

JGB TECHS
JGB TECHS: (U9) Plays the Range
*RES 3: 154.01 - Jul 28 2016 high
*RES 2: 153.79 - 2.0% Upper Bollinger Band
*RES 1: 153.63 - Cycle High
*PRICE: 153.48 @ 16:22 BST, Jun 17
*SUP 1: 153.32 - 23.6% 152.32 - 153.63
*SUP 2: 152.66 - 2% Lower Bollinger Band
*SUP 3: 152.33 - 6 March Low
JGB futures held well toward the upper end of the recent range to begin the
week, but broader market moves have been muted, keeping pressure on the cycle
highs of 153.63. Bulls first need to crack this level ahead of the 2.0% Upper
Bollinger Band, which would signal another leg higher for JGBs. With the RSI
easing back further below overbought levels this week, bulls may now find the
opportunity to reload and aim for the nearest resistance. The upward trend looks
solid for now, but the outlook will worsen should bears take out the 50-dma
support at 152.93.

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