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(Z9) Either Side of 50-dma *RES 3:........>

JGB TECHS
JGB TECHS: (Z9) Either Side of 50-dma
*RES 3: 155.64 - 2.0% Upper Bollinger Band
*RES 2: 155.53 - Cycle High
*RES 1: 155.48 - Recovery high
*PRICE: 154.74 @ 15:20 GMT, Oct 2
*SUP 1: 153.49 - Aug 2 Low
*SUP 2: 153.33 - 1.0% 10-dma envelope
*SUP 3: 153.32 - 200-dma
Cycle highs remain on the cards for bulls, but momentum faltered into the
beginning of this week which carried through well into the Wednesday session.
The bias remains lower the longer prices hold below 155. Bulls retain their
sights on 155.53 and the Vol band resistance beyond. This week's moves keep the
near-term outlook constructive with the confirmed close above the 50-dma also
helping the upside argument. Bears can easily tip the balance back to negative,
with envelope support at 153.33 the medium-term target. The 200-dma remains well
within range for bears.

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