(Z18) Watch The Downtrend *RES 4:.........>

JGB TECHS: (Z18) Watch The Downtrend

*RES 4: 150.62 - 100-DMA (Continuation chart)

*RES 3: 150.58 - High Aug 22

*RES 2: 150.48 - 50-DMA (Continuation chart)

*RES 1: 150.32 - Downtrend beginning July

*PRICE: 150.31 @ 16:23 GMT, Sep 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)

*SUP 4: 149.28 - Spike Low Feb 3, 17 (Continuation chart)

The JGB continuous contract remains in the steady downtrend which began in July,

and continues to hug trendline resistance now coming in at 150.32. A break of

there would suddenly paint a more bullish picture, with next upside level at

150.48 (50-DMA). Absent a break, the short/medium/long-term trends all remain

negative. Bears will be looking to tentative support around 150.12, but the

bigger test will be the 149.75 level representing the spike low on Aug 2.