(Z9): Downside Extension Likely...........>

JGB TECHS: (Z9): Downside Extension Likely Near-Term

*RES 3: 153.93 - High Nov 6

*RES 2: 153.62 - Low Sep 17 and former breakout point

*RES 1: 153.27 - High Nov 8

*PRICE: 152.99 @ 18:43 GMT, Nov 11

*SUP 1: 152.55 - Low Nov 11

*SUP 2: 152.39 - 1.618 projection of Sep 4 - Sep 17 decline from Sep 25 high

*SUP 3: 152.11 - 1.764 projection of Sep 4 - Sep 17 decline from Sep 25 high

JGB futures remain bearish following last weeks sharp slide, a week that saw

important support levels cleared, the most recent being the break of the Sep 17

low of 153.62 on Nov 6. A clear bearish price sequence of lower lows and lower

highs prevails too. Attention is now on the next objectives at 152.39 and

152.11, both Fibonacci projection targets. Initial resistance is seen at 153.27,

Nov 8 high. Look for the downside to extend.