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(Z2) Corrective Bounce

JGB TECHS
  • RES 3: 152.26 - High Dec 7 / 21 2021
  • RES 2: 151.13 - High Mar 3
  • RES 1: 149.20/150.81 - High Aug 5 / High Aug 5
  • PRICE: 148.79 @ 14:09 GMT Nov 02
  • SUP 1: 147.38 - Low Oct 21
  • SUP 2: 147.07 - Low Jun 20
  • SUP 3: 145.05 - Low Jun 16 and a key support

JGB futures have established a firmer tone this week with price action moving above the 20-day EMA. Short-term gains are considered corrective with the primary trend direction still down. Key resistance has been defined at 149.20, the Aug 5 high where a break is required to suggest a stronger reversal. A reversal lower would signal a resumption of the primary downtrend and this would open 147.07, the Jun 20 low (cont).

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