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Free AccessMNI European Morning FI Technical Analysis
1 August 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) 162.67 Resistance Remains Key
*RES 4: 163.07 100-DMA
*RES 3: 162.67 High July 24
*RES 2: 162.50 High July 27
*RES 1: 162.19 High July 31
*PREVIOUS CLOSE: 161.97
*SUP 1: 161.72 Low July 31
*SUP 2: 161.60 21-DMA
*SUP 3: 161.55 Hourly support July 28
*SUP 4: 161.37 Low July 28
*COMMENTARY: The break of the 161.56 support Friday lacked follow through with
the break reversed and the 161.02-37 support region now key. Bears continue to
look for a close below 161.02 to end bullish hopes and confirm focus on
160.17-31. Bulls continue to look for a close above 162.67 to shift immediate
focus to 163.07-163.31 and overall focus back to 164.13. The Bollinger top
(162.65) is the key concern with potential to limit follow through.
BOBL TECHS: (U17) 132.01 Support Key
*RES 4: 132.39 100-DMA
*RES 3: 132.35 55-DMA
*RES 2: 132.28 Daily Bull channel top
*RES 1: 132.17 High July 31
*PREVIOUS CLOSE: 132.05
*SUP 1: 132.01 Alternating hourly support/resistance
*SUP 2: 131.87 Low July 28
*SUP 3: 131.82 Low July 26
*SUP 4: 131.77 21-DMA
*COMMENTARY: The break of last week's high Monday has lacked follow through
which is less than ideal with daily studies looking to correct from O/B. Initial
support remains at 132.01 with bears needing a close below to shift focus to
131.64-87. Below 131.64 remains needed to shift focus back to 131.30 July lows.
Bulls now need a close above 132.17 to reconfirm focus on 132.28-48 where the
bull channel top and key DMAs are situated.
SCHATZ TECHS: (U17) Bears Need Close Below 100-DMA
*RES 4: 112.150 Daily Bull channel top
*RES 3: 112.110 Low May 30 now resistance
*RES 2: 112.090 High June 16
*RES 1: 112.085 High July 31
*PREVIOUS CLOSE: 112.070
*SUP 1: 112.050 100-DMA
*SUP 2: 112.020 Low July 28, 55-DMA
*SUP 3: 112.010 Hourly support July 26
*SUP 4: 112.000 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 target 112-180/230 although the channel top may slow the move. Layers
of support continue to accumulate with bears needing a close below the 100-DMA
to ease bullish pressure and shift focus back to 112.000-020 where the bull
channel base and 55-DMA are located.
GILT TECHS: (U17) 125.56 Support Key Today
*RES 4: 126.96 55-DMA
*RES 3: 126.82 100-DMA
*RES 2: 126.67 High July 24
*RES 1: 126.54 High July 25
*PREVIOUS CLOSE: 126.04
*SUP 1: 125.86 Hourly support July 26
*SUP 2: 125.74 21-DMA
*SUP 3: 125.62 High July 17 now support
*SUP 4: 125.56 Daily Bull channel base
*COMMENTARY: Hesitation ahead of layers of resistance 126.54-96 is less than
ideal for bulls as daily studies correct from O/B. Monday's close leaves the
contract looking heavy with the 125.56-86 support region currently key. Bears
need a close below the bull channel base to shift focus back to 124-71-95. Bulls
continue to look for a close above the 55-DMA to hint at a shift higher in focus
with above 127.20 targeting 127.66-128.68.
SHORT-STERLING TECHS: (Z17) O/B Studies Correcting
*RES 4: 99.690 2017 Highs June 12 & 13
*RES 3: 99.650 High June 21
*RES 2: 99.620 Bollinger band top
*RES 1: 99.610 High July 27 & 28
*PREVIOUS CLOSE: 99.580
*SUP 1: 99.579 100-DMA
*SUP 2: 99.570 Low July 25
*SUP 3: 99.560 Low July 20
*SUP 4: 99.540 Alternating daily support/resistance
*COMMENTARY: O/B daily studies looking to correct appear to be impacting with a
sell-off and bearish close that sees pressure back on the 100-DMA. Bears now
look for a close below the 100-DMA to confirm focus on 99.530-560 where 21 &
200-DMAs and the bull channel base are situated. The 99.610 resistance remains
key with bulls needing a close above to reconfirm a bullish bias targeting
99.650-690.
EURIBOR TECHS: (H18) Pressuring Key Support
*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: 100.285
*SUP 1: 100.285 - Low July 25 - 28
*SUP 2: 100.275 - High July 14 & 17 now support, 21 & 55-DMA
*SUP 3: 100.269 - Daily Bull channel base
*SUP 4: 100.252 - 100-DMA
*COMMENTARY: The lack of follow through on the spike to 100.300 on July 25 has
left the contract looking a little heavy and pressuring the 100.285 support.
Bears continue to look for a close below 100.285 to ease bullish pressure and
signal a correction back to 100.269-275 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.
US 10-YR FUTURE TECHS: (U17) Topside Hesitation Now A Worry
*RES 4: 126-120 - High July 21 & 24
*RES 3: 126-050 - Daily Bear channel top
*RES 2: 126-020 - Low July 24 now resistance
*RES 1: 125-310 - Hourly resistance July 31
*PRICE: 125-240 @ 0430GMT
*SUP 1: 125-210 - Alternating hourly support/resistance
*SUP 2: 125-150 - Low July 25
*SUP 3: 125-100 - 100-DMA
*SUP 4: 124-070 - High July 11 now support
*COMMENTARY: Continued hesitation ahead of the 126-020 resistance and bear
channel top combined with a lack of follow through above the 55-DMA (126-000) is
less than ideal for bulls who need a close above 126-020 to initially target
126-120. The 125-070/150 support region remains key with the 100-DMA noted at
125-100. Bears look for a close below 125-070 to end bullish hopes and shift
initial focus to 124-210/250.
US 10-YR YIELD TECHS: 2.228-229 Support Key
*RES 4: 2.366 - High July 13
*RES 3: 2.354 - Daily Bear channel top
*RES 2: 2.337 - Hourly resistance July 14
*RES 1: 2.313 - 21-DMA
*PRICE: 2.305 @ 0430GMT
*SUP 1: 2.285 - Hourly support July 31
*SUP 2: 2.273 - Low July 31
*SUP 3: 2.249 - 55-DMA
*SUP 4: 2.241 - Hourly support July 24
*COMMENTARY: The rejection around 2.337 last week left the yield looking heavy
and immediate focus on 2.228-229 where the 200-WMA is situated. Bears look for a
close below the 200-WMA to confirm focus back on the 2.103 2017 low and below
2.103 to target 1.879. Layers of resistance remain with bulls needing a close
above 2.337 to see pressure back on 2.354-396 where the bear channel top and
July highs are located.
EUROSTOXX50 TECHS: 21-DMA Now Capping
*RES 4: 3519.84 100-DMA
*RES 3: 3508.90 Hourly support July 20 now resistance
*RES 2: 3483.89 21-DMA
*RES 1: 3480.78 Hourly support July 26 now resistance
*PREVIOUS CLOSE: 3449.36
*SUP 1: 3437.39 Bollinger band base
*SUP 2: 3431.19 Low July 24
*SUP 3: 3407.33 Monthly Low Apr 19
*SUP 4: 3390.04 Low Mar 13
*COMMENTARY: Hesitation ahead of the 100-DMA continues with the 21-DMA now
capping and the index looking heavy. Immediate focus is back on the 3431.19
range base with a close below shifting initial focus to 3390.04-3392.63 where
the bear channel base is noted. Bulls now need a close above the 21-DMA to ease
immediate bearish pressure and shift focus back to 3519.84-3555.37 where 55 &
100-DMAs and the bear channel top are situated.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.