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MNI European Morning FI Technical Analysis 

9 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) Bulls Need Close Above 163.51
*RES 4: 164.43 Low June 19 now resistance
*RES 3: 164.13 Low June 16 now resistance
*RES 2: 163.51 High Aug 4
*RES 1: 163.31 Hourly resistance Aug 7
*PREVIOUS CLOSE: 163.17
*SUP 1: 163.03 Low Aug 8
*SUP 2: 162.84 Low Aug 7
*SUP 3: 162.63 Low Aug 2
*SUP 4: 162.50 High July 27 now support
*COMMENTARY: Bulls are struggling to gain traction above 55 (163.15) & 100
(163.20) DMAs with dips a concern. The 162.50-63 support region remains key.
Bears need a close below 162.50 to shift focus back to 161.37-162.13 where the
daily bull channel base and 21-DMA (162.03) are noted. The 163.51 resistance is
key with bulls needing a close above to retain initial focus on 164.13-43. The
Bollinger top 163.61 is the key concern for bulls.
BOBL TECHS: (U17) 132.23 & 132.48 Levels Remain Key
*RES 4: 132.98 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: 132.37
*SUP 1: 132.30 Hourly support Aug 7
*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: U17 continues to flirt with the 100-DMA (132.42) with bulls needing
a close above the key 132.48 resistance to confirm breaks of 55 (132.35) &
100-DMAs, shifting focus to 132.85-98. O/B studies and the Bollinger top
(132.59) remain concerns for bulls. In saying that, bears need a close below
132.23 to ease bullish pressure and shift focus back to 131-82-98 where the
21-DMA and bull channel base are located.
SCHATZ TECHS: (U17) Pressuring Support Layers
*RES 4: 112.160 55-WMA 
*RES 3: 112.140 21-WMA 
*RES 2: 112.130 High Aug1 
*RES 1: 112.110 High Aug 4
*PREVIOUS CLOSE: 112.070
*SUP 1: 112.055 Low Aug 7 
*SUP 2: 112.050 100-DMA, Daily bull channel base 
*SUP 3: 112.030 55-DMA 
*SUP 4: 112.020 21-DMA
*COMMENTARY: Hesitation ahead of the 21-WMA is less than ideal for bulls with
daily studies at O/B levels & the Bollinger top (112.150) limiting follow
through. In saying that, layers of support 112.020-055 remain key. Bears need a
close below 112.020 to confirm an easing of bullish pressure and shift immediate
focus to 111.950-970. Bulls now need a close above 112.110 to gain breathing
room and above the 55-WMA to reconfirm a bullish bias targeting 112.180-230.
GILT TECHS: (U17) 127.24-35 Resistance Remains Key
*RES 4: 128.68 High June 21 
*RES 3: 127.35 Low June 1 now resistance 
*RES 2: 127.29 Daily Bull channel top 
*RES 1: 127.28 Low June 27 now resistance
*PREVIOUS CLOSE: 126.95
*SUP 1: 126.76 Hourly resistance Aug 7 now support 
*SUP 2: 126.50 Hourly support Aug 3 
*SUP 3: 126.21 Hourly resistance Aug 2 now support 
*SUP 4: 126.12 21-DMA
*COMMENTARY: The contract remains capped ahead of layers of resistance 127.28-35
where the daily bull channel top is situated. Bull continue to look for a close
above 127.35 to reconfirm a bullish bias and shift focus to 128.68-129.19 where
June highs are located. Layers of support remain with bears needing a close
below 126.50 to ease bullish pressure and below 126.21 to shift focus back to
125.62-126.04.
SHORT-STERLING TECHS: (Z17) Bulls Focused On 99.650-690
*RES 4: 99.690 2017 Highs June 12 & 13
*RES 3: 99.678 Weekly Bollinger band top
*RES 2: 99.650 High June 21
*RES 1: 99.640 Bollinger band top, High Aug 7
*PREVIOUS CLOSE: 99.630
*SUP 1: 99.600 Low Aug 4
*SUP 2: 99.588 55-DMA
*SUP 3: 99.577 21-DMA
*SUP 4: 99.560 Low July 20, Low Aug 3
*COMMENTARY: The bullish closes add to confidence with focus back on layers of
resistance 99.650-690 where Bollinger tops and 2017 highs are situated. The
daily Bollinger band top is the key concern for bulls with potential to limit
follow through. Layers of support are accumulating with bears needing a close
below 99.600 to gain breathing room and below 99.560 to shift initial focus to
99.540-545.
EURIBOR TECHS: (H18) Bears Need Close Below 100.275
*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 - Repeated daily lows July & Aug
*SUP 2: 100.279 - 55-DMA
*SUP 3: 100.278 - Daily Bull channel base
*SUP 4: 100.275 - Alternating daily support/resistance
*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
below 100.275 now to shift focus back to 100.244-258. 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 (100.309) remains the key concerns for
bulls as studies correct back to neutral levels.
US 10-YR FUTURE TECHS: (U17) 125-290 & 126-160 Levels Key
*RES 4: 127-080 - Monthly High June 14 
*RES 3: 126-290 - High June 26 
*RES 2: 126-160 - Low June 21 now resistance, Bollinger top 
*RES 1: 126-090 - Hourly support Aug 4 now resistance
*PRICE: 126-080 @ 0430GMT
*SUP 1: 125-310 - 21-DMA
*SUP 2: 125-290 - Low Aug 8
*SUP 3: 125-170 - 100-DMA
*SUP 4: 125-150 - Low July 25
*COMMENTARY: Hesitation ahead of the 21-DMA and support emerging on dips below
the 55-DMA (126-020) are concerns for bears who need a close below 125-290 to
add weight to their case for a correction with below 125-150 to shift focus back
to 124-110/250. The 126-090/160 resistance region remains key. Bulls look for a
close above 126-090 to gain breathing room and above 126-160 to shift focus to
126-290/127-080.
US 10-YR YIELD TECHS: 2.218-237 Support Key
*RES 4: 2.321 - High Aug 1
*RES 3: 2.314 - 200-DMA
*RES 2: 2.289 - High Aug 4 & 8
*RES 1: 2.279 - 21-DMA
*PRICE: 2.249 @ 0430GMT
*SUP 1: 2.237 - Hourly resistance Aug 4 now support 
*SUP 2: 2.218 - Low Aug 3 
*SUP 3: 2.177 - High June 21 now support 
*SUP 4: 2.121 - Low June 26
*COMMENTARY: The rally Friday provided bulls breathing room but a close above
the 200-DMA is needed to confirm a return in focus to 2.337-396 where the daily
bear channel top (2.337) is noted. The 2.218-2.237 support region is now key.
Bears need a close below 2.237 to ease renewed bullish pressure and below 2.218
to reconfirm focus on tests of 2017 lows. The Bollinger base (2.216) is the key
concern for bears with potential to limit follow through.
EUROSTOXX50 TECHS: Above 3555.37 To Shift Focus Higher 
*RES 4: 3555.37 High June 29 
*RES 3: 3539.48 High July 13 
*RES 2: 3529.99 High July 20 
*RES 1: 3523.87 100-DMA
*PREVIOUS CLOSE: 3515.63
*SUP 1: 3509.85 Hourly resistance Aug 8 now support 
*SUP 2: 3490.49 High Aug 1 now support 
*SUP 3: 3487.62 21-DMA 
*SUP 4: 3472.05 Hourly resistance Aug 4 now support
*COMMENTARY: The recovery from the range base and last week's low has resulted
in focus back on the 3523.87-3555.37 resistance region. Bulls look for a close
above 3555.37 to confirm a bullish bias and initially target 3615.06 with
overall focus on 2017 highs. Support layers are again building with bears now
needing a close below the 21-DMA to ease bullish pressure and below 3472.05 to
shift focus back to 3431.19-3438.15.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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