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(Z0) Corrective Pullback

JGB TECHS
  • RES 3: 152.53 - 1.50 proj of Aug 28 - Sep 4 rally from Sep 7 low
  • RES 2: 152.45 - 3.0% Upper Bollinger Band
  • RES 1: 152.29 - High Sep 24 and the bull trigger
  • PRICE: 151.87 @ 16:21 BST Oct 6
  • SUP 1: 151.76 - Low Sep 11
  • SUP 2: 151.54 - Low Sep 7 and key near-term support
  • SUP 3: 151.43 - Low Sep 1

JGBs remain below recent lows and price is currently under pressure once again. Price has traded through 152.00 and is approaching initial support at 151.97, Oct 2 low. A break of this support would signal scope for a deeper corrective pullback. From a trend perspective and while support holds, the outlook remains bullish and upside targets remain 152.45 and 152.53. The bull trigger is at 152.29, Sep 24 high.

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