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(Z18) Downtrend Continues *RES 4:.........>

JGB TECHS
JGB TECHS: (Z18) Downtrend Continues
*RES 4: 150.62 - 100-DMA (Continuation chart)
*RES 3: 150.58 - High Aug 22
*RES 2: 150.45 - 50-DMA (Continuation chart)
*RES 1: 150.32 - Downtrend beginning July
*PRICE: 150.21 @ 16:43 GMT, Sep 14
*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)
*SUP 4: 149.28 - Spike Low Feb 3, 17 (Continuation chart)
The contract remains in the steady downtrend which began in July. A break of
trendline resistance now coming in at 150.32 would suddenly paint a more bullish
picture, with next upside level at 150.48 (50-DMA). But absent a break higher,
the short/medium/long-term trends all remain negative. Bears will be looking to
a continued move lower to tentative support around 150.12, but the bigger test
will be the 149.75 level representing the spike low on Aug 2.

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