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(Z3) Bull Cycle Remains In Play

  • RES 3: 149.53 - High Mar 22 and a key resistance
  • RES 2: 148.74 - High Jul 24
  • RES 1: 147.21 - High Aug 9
  • PRICE: 147.10 @ 20:34 GMT Dec 05
  • SUP 1: 145.53 Low Nov 27
  • SUP 2: 143.44 - Low Oct 31
  • SUP 3: 143.29 - 2.618 proj of the Mar 22 - Apr 18 - May 12 swing

JGBs are trading at their recent highs. 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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