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(Z18) Fresh Contract Lows *RES 3:.........>

JGB TECHS
JGB TECHS: (Z18) Fresh Contract Lows
*RES 3: 150.58 - High Aug 22
*RES 2: 150.45 - 50-DMA (Continuation chart)
*RES 1: 150.32 - Downtrend beginning July
*PRICE: 150.04 @ 15:36 GMT, Oct 10
*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)
149.95 remains the base for JGB futures for now, providing some modest support
over the past week following the weakness in US Treasuries. Wednesday price
action once again stuck to the tight trading range and keeps the balance in
favour of the bears. 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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