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(Z18) Balance Tilting Neutral *RES 3:.....>

JGB TECHS
JGB TECHS: (Z18) Balance Tilting Neutral
*RES 3: 150.58 - High Aug 22
*RES 2: 150.45 - 50-DMA (Continuation chart)
*RES 1: 150.32 - Downtrend beginning July
*PRICE: 150.17 @ 15:31 GMT, Oct 12
*SUP 1: 149.75 - Spike Low Aug 2
*SUP 2: 149.65 - Spike Low Jul 7, 17 (Continuation chart)
*SUP 3: 149.38 - Spike Low Dec 2, 16 (Continuation chart)
Friday price action was largely directed by recent ranges, underpinned by the
week's rally in US bonds. 149.95 remains the base for JGB futures for now, which
continues to provide some modest support.Friday's failure to break higher keeps
the balance in favour of the bears in the meantime. A break below 149.95 would
open the Aug 2 spike low at 149.75 and 149.65 below there. To inspire a
recovery, bulls need a break above 150.32. Absent a break higher, the
short/medium/long-term trends all remain negative.

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