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(Z9) Falters At The Highs *RES 3:.........>

JGB TECHS
JGB TECHS: (Z9) Falters At The Highs
*RES 3: 155.64 - 2.0% Upper Bollinger Band
*RES 2: 155.53 - Cycle High
*RES 1: 155.48 - Recovery high
*PRICE: 155.18 @ 15:16 GMT, Oct 7
*SUP 1: 153.49 - Aug 2 Low
*SUP 2: 153.46 - 1.0% 10-dma envelope
*SUP 3: 153.37 - 200-dma
Cycle highs remain on the cards for bulls, but momentum lagged at the beginning
of the week, leaving traders looking for direction. The recent break back above
155 works in favour of bulls, which retain their sights on 155.53 and the Vol
band resistance beyond. Last 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 153.46 the medium-term target. The 200-dma remains well within range
for bears.

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