MNI European Morning FI Technical Analysis

28 July 2017

By Kyle Shortland

Please click on this link to access MNI's daily European FI Technical Analysis

Pdf - http://tinyurl.com/nhjogts

BUND TECHS: (U17) 161.56 Support Remains Key

*RES 4: 162.97 Daily Bull channel top

*RES 3: 162.67 High July 24

*RES 2: 162.50 High July 27

*RES 1: 162.33 Hourly resistance July 27

*PREVIOUS CLOSE: 162.14

*SUP 1: 161.93 Hourly resistance July 26 now support

*SUP 2: 161.59 21-DMA

*SUP 3: 161.56 Low July 25

*SUP 4: 161.02 Low July 13

*COMMENTARY: The 161.56 support remains key with bears unable to break lower

following the bearish close Tuesday and the recovery buying bulls breathing

space. Bulls continue to look for a close above 162.67 to shift immediate focus

to 162.97-163.31 and overall focus back to 164.04-13. The Bollinger top (162.64)

is the key concern for bulls with potential to limit follow through. Bears still

need a close below 161.56 to shift focus back to July lows so far at 160.31.

BOBL TECHS: (U17) Above 132.14 Targets 55 & 100-DMAs

*RES 4: 132.40 100-DMA 

*RES 3: 132.35 55-DMA 

*RES 2: 132.22 Daily Bull channel top 

*RES 1: 132.14 High July 24

*PREVIOUS CLOSE: 132.09

*SUP 1: 132.01 Hourly resistance July 26 now support

*SUP 2: 131.82 Low July 26

*SUP 3: 131.74 Hourly support July 20, 21-DMA

*SUP 4: 131.64 Hourly support July 18

*COMMENTARY: Support emerging ahead of the 21-DMA sees pressure back on the

132.14 resistance. The 132.14 resistance remains key with bulls needing a close

above to reconfirm a bullish bias and initially target 132.35-48 where 55 &

100-DMAs are located. The Bollinger top (132.12) is the key concern for bulls

with potential to limit follow through. Bears need a close below 132.01 to shift

focus back to 131.64-82.

SCHATZ TECHS: (U17) Bears Need Close Below 112.010

*RES 4: 112.130 Daily Bull channel top 

*RES 3: 112.110 Low May 30 now resistance 

*RES 2: 112.090 High June 16 

*RES 1: 112.070 High July 27

*PREVIOUS CLOSE: 112.050

*SUP 1: 112.040 Low July 27 

*SUP 2: 112.010 Hourly support July 26 

*SUP 3: 111.990 Low July 15 

*SUP 4: 111.980 Daily Bull channel base

*COMMENTARY: Higher daily highs and lows continue which adds support to the

bullish case. Layers of resistance remain 112-090/110 with bulls needing a close

above to confirm a break of the 100-DMA (112.050) and target 112-180/230. Layers

of support continue to accumulate with bears needing a close below 112.010 to

shift focus back to 111.950-980 where the daily bull channel base is located.

Daily studies lingering at O/B is the key concern for bulls.

GILT TECHS: (U17) 126.05 Support Key Today

*RES 4: 126.90 Daily Bull channel top 

*RES 3: 126.77 100-DMA 

*RES 2: 126.67 High July 24 

*RES 1: 126.47 High July 27

*PREVIOUS CLOSE: 126.35

*SUP 1: 126.05 High July 26 now support 

*SUP 2: 125.72 21-DMA 

*SUP 3: 125.62 High July 17 now support 

*SUP 4: 125.39 Daily Bull channel base

*COMMENTARY: Despite looking heavy and flirting with the 21-DMA Tuesday bears

were unable to manage the break below 152.62 needed to confirm focus on

124.71-95. Thursday gains sees bullish focus back on the 126.67127.19 region

where 55 & 100-DMAs are situated. Initial support is now noted at 126.05 with

bears needing a close below to ease immediate bullish pressure and below 125.62

to shift focus back to 124.71-95.

SHORT-STERLING TECHS: (Z17) Bears Need Close Below 99.590

*RES 4: 99.690 2017 Highs June 12 & 13

*RES 3: 99.672 Weekly Bollinger band top

*RES 2: 99.650 High June 21

*RES 1: 99.610 Bollinger band top, High July 27

*PREVIOUS CLOSE: 99.610

*SUP 1: 99.590 Low July 27

*SUP 2: 99.570 Low July 25

*SUP 3: 99.560 Low July 20

*SUP 4: 99.540 Alternating daily support/resistance

*COMMENTARY: The break of the 99.590 resistance is now gaining traction with

bulls shifting focus to tests of 99.650 and then 2017 highs above. The Bollinger

top and O/B daily studies remain key concerns for bulls with potential to limit

follow through. Bears now need a close below 99.590 to ease immediate bullish

pressure and hint at a correction back to 99.540-560 where the 21-DMA & 200-DMAs

are noted.

EURIBOR TECHS: (H18) 100.285 Support Key

*RES 4: 100.360 - High Oct 6 

*RES 3: 100.330 - High Oct 19 

*RES 2: 100.305 - 2017 High June 14 & 22 

*RES 1: 100.300 - High July 25

*PREVIOUS CLOSE: 100.290

*SUP 1: 100.285 - Low July 25 & 26

*SUP 2: 100.275 - High July 14 & 17 now support

*SUP 3: 100.274 - 55-DMA

*SUP 4: 100.267 - Daily Bull channel base

*COMMENTARY: The bearish key day reversal failed to produce a break lower with

support at 100.285. Bears look for a close below this level to ease bullish

pressure and signal a correction back to 100.265-275 where 21 & 55-DMAs and the

daily bull channel base are situated. While 100.285 supports bulls retain the

upper hand and focus on a break of 100.305 needed to target the 100.330-360

region. The Bollinger top and O/B studies remain the key concerns for bulls.

US 10-YR FUTURE TECHS: (U17) 125-070/150 Support Key

*RES 4: 126-290 - High June 26 

*RES 3: 126-120 - High July 21 & 24 

*RES 2: 126-070 - Daily Bear channel top 

*RES 1: 126-020 - Low July 24 now resistance

*PRICE: 125-270 @ 0430GMT

*SUP 1: 125-210 - Low July 27

*SUP 2: 125-150 - Low July 25

*SUP 3: 125-080 - 100-DMA

*SUP 4: 124-070 - High July 11 now support

*COMMENTARY: The bounce from the 125-150 support has lacked follow through with

topside hesitation a concern for bulls when combined with waning momentum and

daily studies correcting from O/B. The 125-070/150 support region remains key.

Bears need a close below 125-150 to ease bullish pressure and below 125-070 to

confirm a break of the 100-DMA and pressure 124-210/250. Bulls need a close

above 126-120 to target 2017 highs.

US 10-YR YIELD TECHS: 2.229 & 2.337 Key

*RES 4: 2.375 - Hourly resistance July 11

*RES 3: 2.366 - High July 13

*RES 2: 2.360 - Daily Bear channel top

*RES 1: 2.337 - Hourly resistance July 14

*PRICE: 2.301 @ 0430GMT

*SUP 1: 2.276 - Low July 27 

*SUP 2: 2.252 - 55-DMA 

*SUP 3: 2.241 - Hourly support July 24 

*SUP 4: 2.229 - Low July 21, Low July 24

*COMMENTARY: Bears continue to take comfort in the 2.337 resistance remaining

unbroken with bulls needing a close above this level to see pressure back to

2.360-396 where the bear channel top and July highs are located. Correcting O/S

studies are the key concern for bears who now need a close below 2.276 to retain

focus on the key 2.229 support. A close below 2.229 remains needed to confirm

focus on 2017 lows.

EUROSTOXX50 TECHS: Layers Of Resistance 3515.84-3555.37 Key 

*RES 4: 3537.62 55-DMA 

*RES 3: 3529.99 High July 20 

*RES 2: 3515.84 100-DMA 

*RES 1: 3508.90 Hourly support July 20 now resistance

*PREVIOUS CLOSE: 3493.14

*SUP 1: 3480.78 Hourly support July 26 

*SUP 2: 3472.07 Low July 26 

*SUP 3: 3463.74 Hourly resistance July 24 now support 

*SUP 4: 3431.19 Low July 24

*COMMENTARY: The recovery from Monday's low is gaining traction with immediate

focus on key layers of resistance 3515.84-3555.37 where 55 & 100-DMAs and the

bear channel top are situated. Bulls need a close above 3555.37 to confirm a

bullish bias and above 3615.06 to target 2017 highs. Layers of support are

accumulating with bears needing a close below 3463.74 to ease bullish pressure

and return initial focus to 3431.19.

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

[TOPICS: MTABLE]