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(U9) Unable to sustain rally *RES 3:......>

JGB TECHS
JGB TECHS: (U9) Unable to sustain rally
*RES 3: 154.45 - 3.0% Upper Bollinger Band
*RES 2: 154.44 - Uptrendline Resistance
*RES 1: 154.43 - Cycle High
*PRICE: 154.25 @ 14:23 GMT, Aug 6
*SUP 1: 153.71 - 38.2% 152.54 - 154.43
*SUP 2: 153.64 - 50-dma
*SUP 3: 153.22 - 100-dma
Another risk-off knee jerk higher in global bonds bumped JGB futures to another
cycle high of 154.43, stalling just ahead of uptrendline resistance. Markets
were happy to sell JGBs there, pressuring prices considerably lower ahead of the
close. This suggests JGBs may have trouble sustaining the recent rally and could
easily revisit Fib support currently sitting at 153.71. A break and close below
there would work in favour of bears, who then set sights on the 50-dma and the
mid-May lows of 152.54.

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