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(Z3) Bull Cycle Remains In Play

JGB TECHS
  • RES 3: 148.74 - High Jul 24
  • RES 2: 147.21 - High Aug 9
  • RES 1: 147.16 - High Nov 30
  • PRICE: 146.39 @ 20:46 GMT Dec 04
  • SUP 1: 143.44 - Low Oct 31
  • SUP 2: 143.29 - 2.618 proj of the Mar 22 - Apr 18 - May 12 swing
  • SUP 3: 142.83 - 1.0% 10-dma envelope

JGBs are holding on to the bulk of the November gains. This signals potential for a continuation higher and note that moving average studies have recently crossed and are in a bull-mode position. This keeps the short-term outlook tilted higher. 147.21 marks the next key upside level, the Aug 9 high. 143.44, the Oct 31 low, marks key support and a medium-term bear trigger. Initial support is at 145.53, the Nov 27 low.

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