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MNI European Morning FI Technical Analysis 

4 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) Focus Shifts To 164.13-79
*RES 4: 165.44 High June 26
*RES 3: 164.79 Low June 21 now resistance
*RES 2: 164.43 Low June 19 now resistance
*RES 1: 164.13 Low June 16 now resistance
*PREVIOUS CLOSE: 163.45
*SUP 1: 163.13 55-DMA
*SUP 2: 162.97 High Aug 2 now support
*SUP 3: 162.63 Low Aug 2
*SUP 4: 162.50 High July 27 now support
*COMMENTARY: Having previously hesitated ahead of key resistance layers bulls
made short work of key DMAs with the bullish close seeing focus shift to
164.13-79 where layers of resistance are noted. The Bollinger top (163.27) is
the key concern for bulls. The 55-DMA is initial support with bears needing a
close below to ease bullish pressure and below 162.50 now needed to shift focus
back to 161.02-78 where the 21-DMA and bull channel base are noted.
BOBL TECHS: (U17) 132.48 Resistance Remains Key
*RES 4: 133.00 Falling daily TL 
*RES 3: 132.95 High June 21 
*RES 2: 132.85 High June 26 
*RES 1: 132.48 Low June 22 now resistance
*PREVIOUS CLOSE: 132.41
*SUP 1: 132.35 Hourly support July 3
*SUP 2: 132.23 Hourly resistance Aug 1 now support
*SUP 3: 132.09 Hourly support July 28
*SUP 4: 132.01 Alternating hourly support/resistance
*COMMENTARY: Pressure remains on the 100-DMA (132.41) with bulls continuing to
look for a close above the key 132.48 resistance to confirm breaks of 55
(132.34) & 100-DMAs, shifting focus to 132.85-00. O/B studies and the Bollinger
top (132.45) remain concerns for bulls. In saying that, bears need a close below
132.23 to ease bullish pressure and shift focus back to 131-82-85 where the
21-DMA and bull channel base are located.
SCHATZ TECHS: (U17) Bulls Need Close Above 112.140
*RES 4: 112.180 High June 14 
*RES 3: 112.170 Daily Bull channel top 
*RES 2: 112.160 55-WMA 
*RES 1: 112.140 21-WMA
*PREVIOUS CLOSE: 112.105
*SUP 1: 112.080 Low Aug 3 
*SUP 2: 112.050 100-DMA 
*SUP 3: 112.030 55-DMA 
*SUP 4: 112.020 Low July 28
*COMMENTARY: Hesitation ahead of the 21-WMA is less than ideal for bulls with
daily studies at O/B levels & the Bollinger top (112.130) limiting follow
through. The break of 112.095 lacked follow through with bears now needing a
close below 112.080 to shift immediate focus back to 112.020-050 where the bull
channel base, 55 & 100-DMAs are located. Bulls look for a close above 112.140 to
reconfirm the bullish bias and above 112.180 to confirm focus on 112.230.
GILT TECHS: (U17) 128.13-35 Resistance Key Today
*RES 4: 128.68 High June 21 
*RES 3: 127.35 Low June 1 now resistance 
*RES 2: 127.28 Low June 27 now resistance 
*RES 1: 127.13 Daily Bull channel top
*PREVIOUS CLOSE: 126.95
*SUP 1: 126.50 Hourly support Aug 3 
*SUP 2: 126.21 Hourly resistance Aug 2 now support 
*SUP 3: 125.87 21-DMA 
*SUP 4: 125.72 Daily Bull channel base
*COMMENTARY: Support emerging on dips back to the 21-DMA and daily bull channel
base provided the catalyst for a close above 55 (126.92) & 100 (126.85) DMAs
with layers of resistance 128.13-35 now key. Bulls need a close above 127.35 to
shift focus to 128.68-129.19 where June highs are located. Bears now need a
close below 126.50 to ease bullish pressure and below 126.21 to shift focus back
to 125.62-87.
SHORT-STERLING TECHS: (Z17) Bulls Reconfirm Dominance
*RES 4: 99.690 2017 Highs June 12 & 13
*RES 3: 99.650 High June 21
*RES 2: 99.626 Bollinger band top
*RES 1: 99.620 High Aug 3, Daily bull channel top
*PREVIOUS CLOSE: 99.610
*SUP 1: 99.588 55-DMA
*SUP 2: 99.561 21-DMA
*SUP 3: 99.560 Low July 20, Low Aug 3
*SUP 4: 99.540 200-DMA, Alternating daily support/resistance
*COMMENTARY: The 21-DMA confirmed significance providing the base for an
aggressive rally that sees bull regain control and focus back on 99.650-690. The
55-DMA is noted as initial support with bears needing a close below to ease
bullish pressure and shift focus back to 99.560-561. Below 99.560 is needed to
confirm a break of the 21-DMA and pressure 99.537-540 where the bull channel
base and 200-DMA are situated.
EURIBOR TECHS: (H18) Bears Need Close Below Channel Base
*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, High Aug 3
*PREVIOUS CLOSE: 100.290
*SUP 1: 100.285 - Low July 25 - 28
*SUP 2: 100.277 - 55-DMA
*SUP 3: 100.274 - Daily Bull channel base
*SUP 4: 100.254 - 100-DMA
*COMMENTARY: Despite O/B daily studies correcting, bears failed to manage a
break of 100.285. Bears need a close below 100.285 to ease bullish pressure and
signal a correction back to 100.274-277 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) 125-290/126-040 Support Region Key
*RES 4: 127-080 - Monthly High June 14 
*RES 3: 126-290 - High June 26 
*RES 2: 126-210 - Bollinger band top 
*RES 1: 126-160 - Low June 21 now resistance
*PRICE: 126-130 @ 0430GMT
*SUP 1: 126-110 - Hourly resistance Aug 3 now support
*SUP 2: 126-040 - Hourly support Aug 3
*SUP 3: 126-010 - 55-DMA
*SUP 4: 125-290 - Hourly resistance Aug 1 now support
*COMMENTARY: The break of 126-120 has lacked a little follow through with bulls
now looking for a close above 126-160 to confirm focus on 126-290/127-080 where
June highs are located. Daily studies remain well placed for further gains.
Bears now need a close below 126-040 to ease immediate bullish pressure and
below 125-290 to hint at a correction back to 125-140/240 where the 21 &
100-DMAs and daily bull channel base are located.
US 10-YR YIELD TECHS: Focus On 2017 Low
*RES 4: 2.285 - Hourly support July 31 now resistance
*RES 3: 2.275 - Hourly resistance Aug 2
*RES 2: 2.251 - Hourly resistance Aug 3
*RES 1: 2.235 - Hourly support Aug 3 now resistance
*PRICE: 2.225 @ 0430GMT
*SUP 1: 2.200 - Bollinger band base 
*SUP 2: 2.177 - High June 21 now support 
*SUP 3: 2.121 - Low June 26 
*SUP 4: 2.103 - 2017 Low June 14
*COMMENTARY: Failure to trouble 2.285 leaves the yield looking heavy having
closed below the 2.229 support and 200-WMA (2.228) with bears focused on tests
of 2017 lows. Layers of resistance are accumulating with bulls needing a close
above 2.251 to gain breathing room and confirm a break above the 55-DMA (2.245).
Overall a close above the 200-DMA (2.309) is now needed to shift focus back to
2.337 and then 2.346-396 where the bear channel top and July highs are located.
EUROSTOXX50 TECHS: Range Base Remains Unbroken 
*RES 4: 3521.55 100-DMA 
*RES 3: 3508.90 Hourly support July 20 now resistance 
*RES 2: 3490.49 High Aug 1 
*RES 1: 3466.11 Hourly support Aug 2 now resistance
*PREVIOUS CLOSE: 3466.37
*SUP 1: 3454.06 Hourly support Aug 3 
*SUP 2: 3433.68 Bollinger band base 
*SUP 3: 3431.19 Low July 24 
*SUP 4: 3407.33 Monthly Low Apr 19
*COMMENTARY: Broad sideways trading 3431.19-3555.37 continues with the
3508.90-3555.37 resistance region remaining key. Bulls now need a close above
3490.49 to shift focus back to 3508.90-3555.37. While 3490.49 caps bears now
focus on a break of 3431.19 needed to target 3369.47-3390.04 where the bear
channel base and 200-DMA (3369.47) are situated. Relatively flat Bollinger bands
suggest further sideways trading.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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