Free Trial

(Z9): Bearish Theme Intact *RES 3:........>

JGB TECHS
JGB TECHS: (Z9): Bearish Theme Intact
*RES 3: 154.48 - High Nov 5 and key resistance
*RES 2: 153.93 - High Nov 6
*RES 1: 153.49/62 - Former bear channel support / Sep 17 low
*PRICE: 153.41 @ 18:21 GMT, Nov 6
*SUP 1: 153.55 - Intraday low
*SUP 2: 153.50 - Broad bear channel base drawn off Sep 4 high
*SUP 3: 153.12 - 1.236 progression of Sep 4 - Sep 17 decline from Sep 25 high
JGB futures are off yesterday's low as a short-term correction unfolds. The
outlook remains bearish though following this week's sharp slide. This resulted
in a break of former key support at 153.62, Sep 17 low and 153.50, the base of a
relatively flat broad bear channel drawn off Sep 4 high. The next objective is
152.84, a Fibonacci progression. Resistance is 153.49/62, the former bear
channel support-now-resistance and Sep 17 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.