MNI Asian Morning FI Technical Analysis

30 May 2018

By Kyle Shortland

Click below for today's MNI FI Technical Analysis Report -

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Bulls Focused On 97.910-955 

*RES 4: 97.941 - 55-WMA 

*RES 3: 97.935 - High Mar 15 

*RES 2: 97.930 - Weekly Bear channel top off 2016 high 

*RES 1: 97.910 - High Mar 29

*PRICE: 97.900 @ 2130GMT

*SUP 1: 97.879 - 200-DMA 

*SUP 2: 97.865 - High Apr 10 now support 

*SUP 3: 97.835 - Low May 29 

*SUP 4: 97.814 - 100-DMA

*COMMENTARY: Bulls take comfort in the close above the 200-DMA with bulls now

focused on layers of resistance 97.910-955 where the weekly bear channel top,

2018 highs and 55-WMA are situated. Bulls look for a close above 97.955 to shift

focus to 98..110 Dec highs. Bears now need a close below 97.865 to gain

breathing room and below the 55-DMA (97.798) to shift focus lower once more.

     AUSSIE 10-YR TECHS: (M18) Bears Need Close Below 97.3600 

*RES 4: 97.5200 - Monthly High Nov 30

*RES 3: 97.5000 - High Dec 8

*RES 2: 97.4400 - 2018 High Apr 3

*RES 1: 97.4141 - 100-WMA

*PRICE: 97.3950 @ 2130GMT

*SUP 1: 97.3600 - High Apr 9 now support

*SUP 2: 97.2950 - Low May 29

*SUP 3: 97.2651 - 200-DMA

*SUP 4: 97.2372 - 55-DMA

*COMMENTARY: Bears failed to gain traction below the LT weekly bull channel base

(97.1046) last week with the contract now looking to gain traction above the

200-WMA (97.3223). Focus is now on layers of resistance 97.4141-5200 where

monthly and 2018 highs and the 100-WMA are located. The 97.3600 support is key

today. Bears need a close below this level to ease bullish pressure and hint at

a correction back to the 200-DMA.

     US 10-YR FUTURE TECHS: (M18) Pressuring Key Resistance

*RES 4: 123-23+ 55-WMA

*RES 3: 123-01+ Low Dec 21 now resistance

*RES 2: 122-02  Monthly High Feb 6

*RES 1: 121-12  Monthly High Apr 2

*PRICE: 121-07+ @ 2130GMT

*SUP 1: 121-00  Hourly resistance May 29 now support

*SUP 2: 120-14+ 100-DMA

*SUP 3: 120-06+ Alternating daily support/resistance

*SUP 4: 119-31+ 55-DMA

*COMMENTARY: The contract is gaining traction above the 21-WMA (120-21+) with

immediate pressure on 121-12. Bulls need a close above this level to shift

immediate focus to 122-02 and overall focus to 123-23+/124-05+ where the 55-WMA

is noted. Bears now need a close below the 100-DMA to ease bullish pressure and

below the 55-DMA to hint at a move back to 2018 lows with below the 21-DMA

(119-11+) to confirm.

     US 10-YR YIELD TECHS: Bears Focused On Apr Low

*RES 4: 2.904 - 55-DMA 

*RES 3: 2.891 - Hourly resistance May 29a 

*RES 2: 2.828 - Hourly resistance May 29 

*RES 1: 2.797 - Hourly support May 29 now resistance

*PRICE: 2.788 @ 2130GMT

*SUP 1: 2.759 - Low May 29 

*SUP 2: 2.717 - Monthly Low Apr 2 

*SUP 3: 2.648 - Low Feb 6 

*SUP 4: 2.609 - Low Jan 24

*COMMENTARY: The correction lower from 2018 highs sees the yield having broken

below the 21-WMA (2.841) and bull channel base (2.867) off 2017 lows with

immediate focus now on the 2.717 Apr low. Daily studies have a little room to

move before O/S becomes an issue. Bulls now need a close above 2.922 to confirm

a break above the 55-DMA and ease bearish pressure with above 3.050 to shift

immediate focus back to 3.084-155.

     JGB TECHS: (M18) Immediate Focus On 151.15-19

*RES 4: 151.51 - 2017 High Sept 8

*RES 3: 151.31 - Low Sept 11 now resistance

*RES 2: 151.19 - Monthly High Nov 22

*RES 1: 151.15 - 2018 High Mar 2

*PRICE: 151.13 @ 2130GMT

*SUP 1: 151.06 - High Mar 12 now support 

*SUP 2: 151.00 - High May 29 now support 

*SUP 3: 150.90 - Hourly support May 28 

*SUP 4: 150.79 - 21-DMA

*COMMENTARY: Immediate pressure has returned to the 2018 high and the 151.15-19

resistance region. Bulls look for a close above this level to shift focus to

tests of 2017 highs. Daily studies approaching O/B is the key concern for bulls.

Layers of support are accumulating and adding support to the bullish case. Bears

now need a close below 151.00 to ease bullish pressure and shift focus back to

layers of support 150.73-84.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]