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(U9) Stands pat *RES 3: 154.16 - Broken...>

JGB TECHS
JGB TECHS: (U9) Stands pat
*RES 3: 154.16 - Broken Trendline Resistance
*RES 2: 154.14 - 3.0% Upper Bollinger Band
*RES 1: 154.13 - Cycle High
*PRICE: 153.73 @ 15:50 GMT, Jul 29
*SUP 1: 153.49/ - 50-dma
*SUP 2: 153.15 - 61.8% 152.54 - 154.13
*SUP 3: 153.13 - 100-dma
Another quiet session for JGB futures, doing little to change the technical
outlook. The positive outlook is still in tact, however, with a move below the
153.32 weekly low needed to damage the current mini-rally. Bulls face their
first test at 153.82, the 61.8% retracement of the June-July pullback and a
rally north of here will re-open cycle highs. To the downside, the 50-dma
remains a decent level of support, which will be the first target for bears. A
close below that mark will switch the medium-term trend more bearish, opening
the 153.15 mark and 153.13 below.

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