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EQUITIES

Better buying on the cash open lacks momentum

CROSS ASSET

Equities spill over into Bond and FX

24 April 2018
By Kyle Shortland
     
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (M18) Below 97.690 Initially Targets 2015 Low 
*RES 4: 97.840 - High Apr 12 
*RES 3: 97.795 - High Apr 16 
*RES 2: 97.760 - High Apr 18 
*RES 1: 97.695 - Low Apr 19 now resistance
*PRICE: 97.680 @ 2130GMT
*SUP 1: 97.605 - 2015 Low Dec 15 2015 
*SUP 2: 97.510 - High Nov 25 2014 now support 
*SUP 3: 97.350 - Low Oct 20 2014 
*SUP 4: 97.270 - Weekly Bear channel base
*COMMENTARY: The contract remains offered having traded at fresh 2018 & 2+yr
lows to start the new week with immediate focus shifting to 97.605. O/S daily
studies and the Bollinger base (97.681) remain key concerns for bears. In saying
that, bulls now need a close above 97.695 to gain breathing room and above
97.760 to shift focus back to 97.795-865 where 21 (97.798), 55 (97.842) & 100
(97.854) DMAs are situated.
     AUSSIE 10-YR TECHS: (M18) Above 97.1350 To Gain Breathing Room 
*RES 4: 97.2286 - 55-DMA
*RES 3: 97.2100 - Low Apr 17 now resistance
*RES 2: 97.1850 - Hourly resistance Apr 20
*RES 1: 97.1350 - Alternating hourly support/resistance
*PRICE: 97.1050 @ 2130GMT
*SUP 1: 97.0800 - Low Feb 21
*SUP 2: 97.0688 - Weekly Bull channel base off 2008 Low
*SUP 3: 97.0450 - 2018 Low Feb 6
*SUP 4: 96.9650 - Monthly Low Dec 7 2015
*COMMENTARY: Losses continue and add to bearish confidence with the contract
remaining offered and bears focused on 97.0450-0800 where the weekly bull
channel base off 2008 lows is located. O/S studies and the Bollinger base
(97.1239) remain key concerns for bears. Bulls now need a close above 97.1350 to
gain breathing room and above the 21-DMA (97.2848) to shift initial focus back
to 97.3600 and overall focus to 97.4000-4400.
     US 10-YR FUTURE TECHS: (M18) Below 119-14 Targets 117-22+/118-24
*RES 4: 120-06+ High Apr 19
*RES 3: 120-02+ Low Apr 18 now resistance
*RES 2: 119-29+ High Apr 20
*RES 1: 119-14+ Hourly resistance Apr 23
*PRICE: 119-10+ @ 2130GMT
*SUP 1: 118-24  Low Apr 13 2011
*SUP 2: 117-29+ Monthly Low Apr 8 2011
*SUP 3: 117-25  Weekly Bear channel base
*SUP 4: 117-22  2011 Low Feb 22
*COMMENTARY: The contract remains offered having traded at fresh 2018 & 7yr lows
Monday seeing bears now targeting 117-22+/118-24 where the weekly bear channel
base and 2011 low are located. The Bollinger base 119-18+ remains the key
concern for bears. Bulls now need a close above 119-14+ to gain breathing room
and above Y120-06+ to initially target a correction back to 120-21+/24.
     US 10-YR YIELD TECHS: Focus Shifts To 3.041-073
*RES 4: 3.223 - Monthly High July 1 2011 
*RES 3: 3.168 - Weekly Bull channel top 
*RES 2: 3.073 - Low July 6 2011 now resistance 
*RES 1: 3.041 - 2014 High Jan 2
*PRICE: 2.977 @ 2130GMT
*SUP 1: 2.962 - High Apr 20 now support 
*SUP 2: 2.925 - Hourly support Apr 20 
*SUP 3: 2.904 - Low Apr 20 
*SUP 4: 2.876 - High Apr 18 now support
*COMMENTARY: The 21-DMA (2.823) provided the base for a rally to fresh 2018 &
4+yr highs with immediate bullish focus on 3.041-073 where 2014 highs are
situated. O/B studies and the Bollinger top (2.944) are key concerns for bulls
with potential to limit follow through. In saying that, bears now need a close
below 2.962 to ease bullish pressure and below 2.876 to shift initial focus back
to 2.814-876 where the 21-DMA is found.
     JGB TECHS: (M18) 150.66-82 Resistance Region Now Key
*RES 4: 150.86 - Hourly resistance Apr 19
*RES 3: 150.82 - 55-DMA
*RES 2: 150.75 - 100-DMA
*RES 1: 150.66 - Hourly resistance Apr 20
*PRICE: 150.55 @ 2130GMT
*SUP 1: 150.52 - Hourly support Apr 23 
*SUP 2: 150.43 - Low Apr 23 
*SUP 3: 150.36 - High Feb 1 now support 
*SUP 4: 150.09 - 2018 Low Feb 2
*COMMENTARY: Follow through was lacking to start the new week courtesy of the
Bollinger band base (150.62) and daily studies approaching O/S. Bears now look
for a close below 150.36 to confirm focus on tests of 2018 lows. Bulls need a
close above 150.66 to gain breathing room and above the 55-DMA to shift focus
back to 150.95-151.06.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]