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MNI European Morning FI Technical Analysis 

28 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) Below Channel Base Pressures 163.15-00
*RES 4: 165.93 Monthly High Apr 18
*RES 3: 165.55 Monthly High June 14
*RES 2: 165.44 High June 26
*RES 1: 164.90 Highs Aug 23 & 24
*PREVIOUS CLOSE: 164.77
*SUP 1: 164.53 Daily Bull channel base A
*SUP 2: 164.36 Low Aug 25
*SUP 3: 164.12 Low Aug 22
*SUP 4: 164.00 Low Aug 18
*COMMENTARY: Hesitation at 164.90 leaves a double daily top in place which is
less than ideal for bulls who need a close above 164.90 to reconfirm the bullish
bias and retain focus on 165.44.93. In saying that, bears need a close below
164.59 to ease bullish pressure and below the daily bull channel base off July
28 lows to shift focus back to 163.16-00 where key DMAs are clustered. Waning
momentum and modestly O/S studies remain a concern for bulls.
BOBL TECHS: (U17) Bulls Need Close Above 133.05
*RES 4: 133.38 Daily Bull channel top B 
*RES 3: 133.26 Monthly High June 12 
*RES 2: 133.17 Daily Bull channel top A 
*RES 1: 133.05 High Aug 24
*PREVIOUS CLOSE: 132.99
*SUP 1: 132.86 Daily Bull channel base A
*SUP 2: 132.84 Low Aug 25
*SUP 3: 132.75 Low Aug 22
*SUP 4: 132.65 Low Aug 18
*COMMENTARY: Bullish pressure took its toll with a break higher Wednesday that
shifted bullish focus to tests of 133.26 June highs. Daily studies lingering
around O/B remains the concern for bulls. The 132.75 support is key this week
with bears needing a close below to confirm a break of a channel base and shift
focus back to DMAs 132.31-60. Bulls still need a close above 133.05 to reconfirm
the bullish bias.
SCHATZ TECHS: (U17) Supported On Dips
*RES 4: 112.300 High Apr 24 now support, Bull channel top 
*RES 3: 112.290 Monthly High May 30 
*RES 2: 112.250 Bollinger band top 
*RES 1: 112.240 High Aug 24
*PREVIOUS CLOSE: 112.220
*SUP 1: 112.190 Low Aug 25, Daily bull channel base A 
*SUP 2: 112.185 Low Aug 23 
*SUP 3: 112.175 Low Aug 22 
*SUP 4: 112.146 21-DMA
*COMMENTARY: Since sideways trading 112.130-190 ended the contract has attracted
support on dips. Bears look for a close below 112.175 to confirm an easing of
bullish pressure and below 112.130 to confirm a break of the 21-DMA and
initially pressure 112.042-071 where 55 & 100-DMAs are situated. Bulls remain
focused on 112.290-340 where May highs and the bull channel top are located. The
Bollinger band top remains the key concern for bulls.
GILT TECHS: (U17) Below 127.76 To Ease Bullish Pressure
*RES 4: 129.19 Monthly High June 14 
*RES 3: 129.01 High June 15 
*RES 2: 128.68 High June 21, Bollinger band top 
*RES 1: 128.24 High Aug 11
*PREVIOUS CLOSE: 128.08
*SUP 1: 127.95 Hourly support Aug 24 
*SUP 2: 127.80 Low Aug 24 
*SUP 3: 127.76 Hourly resistance Aug 22 now support 
*SUP 4: 127.49 Low Aug 22
*COMMENTARY: Bears failed to capitalise on pressure on the 127.49 support with
the pair bouncing back towards the 128.24 resistance last week. Bulls need a
close above 128.24 to reconfirm the bullish bias and initially target
128.68-129.19. Bears continue to look for close below 127.76 to ease pressure on
128.24 and below 127.49 to shift immediate focus to 126.87-127.29 where key DMAs
are clustered.
SHORT-STERLING TECHS: (Z17) 99.620 & 99.650 Levels Remain Key
*RES 4: 99.690 2017 Highs June 12 & 13
*RES 3: 99.670 Bollinger band top
*RES 2: 99.693 Daily Bull channel top
*RES 1: 99.650 High June 21 & Aug Repeatedly
*PREVIOUS CLOSE: 99.640
*SUP 1: 99.630 Repeated Daily Lows Aug
*SUP 2: 99.626 21-DMA
*SUP 3: 99.620 Low Aug 8 & 9
*SUP 4: 99.600 Low Aug 4
*COMMENTARY: The 99.650 resistance continues to cap attempts to break for a
fresh leg higher targeting 99.690 2017 highs. Initial remains at 99.630 but
bears still look for a close below 99.620 to shift focus back to 55 & 100-DMAs
99.587-596. The Bollinger top (99.670) remains the key concern for bulls with
potential to limit follow through on a break higher.
EURIBOR TECHS: (H18) Bollinger Top Capping
*RES 4: 100.360 - High Oct 6 
*RES 3: 100.330 - High Oct 19 
*RES 2: 100.318 - Bollinger band top 
*RES 1: 100.315 - 2017 High Aug 22
*PREVIOUS CLOSE: 100.305
*SUP 1: 100.301 - 21-DMA
*SUP 2: 100.300 - Low Aug 11 - 16
*SUP 3: 100.287 - 55-DMA
*SUP 4: 100.285 - Repeated daily lows Aug
*COMMENTARY: Pressure remains on recent 2017 highs with the Bollinger band top
capping and modestly O/B daily studies correcting also a concern and weighing a
little. In saying that, bears now need a close below 100.300 to ease bullish
pressure and below the 55-DMA to signal a correction that initially targets the
100-DMA (100.273). While the 21-DMA supports bull target 100.330-370.
US 10-YR FUTURE TECHS: (U17) Bears Need Close Below 126-200
*RES 4: 127-080 - Monthly High June 14 
*RES 3: 127-070 - 200-WMA 
*RES 2: 127-010 - High Aug 18 
*RES 1: 126-300 - High Aug 23 & 25
*PRICE: 126-270 @ 0430GMT
*SUP 1: 126-200 - Hourly resistance Aug 22 now support
*SUP 2: 126-160 - Low Aug 23
*SUP 3: 126-150 - 21-DMA
*SUP 4: 126-110 - Low Aug 17
*COMMENTARY: Bears failed to capitalise on Tuesday's sell-off with the
aggressive rally and bullish close retaining immediate focus on 127-010/150
where June highs and the bull channel top are located. Layers of support remain.
Bears still need a close below 126-200 to ease bullish pressure and return focus
to layers of support 126-050-160 where the 21 & 55-DMAs & bull channel base are
located.
US 10-YR YIELD TECHS: Focus Remains on 2017 Low
*RES 4: 2.264 - Hourly support Aug 16 now resistance 
*RES 3: 2.250 - Alternating hourly support/resistance 
*RES 2: 2.229 - Hourly resistance Aug 17 
*RES 1: 2.206 - Hourly support Aug 23 now resistance
*PRICE: 2.173 @ 0430GMT
*SUP 1: 2.164 - Low Aug 18 
*SUP 2: 2.148 - Bollinger band base 
*SUP 3: 2.121 - Low June 26 
*SUP 4: 2.103 - 2017 Low June 14
*COMMENTARY: Failure ahead of the 2.229 resistance last week added to the
significance of this level and resulted in bears remaining focused on tests of
2017 lows. A close below 2.103 is needed to shift immediate bearish focus to the
100-WMA (2.055) and overall focus to tests of 1.879. The 2.229 resistance
remains key with bulls needing a close above to ease bearish pressure and above
2.264 to shift initial focus back to 2.289.
EUROSTOXX50 TECHS: 21-DMA Continues To Cap 
*RES 4: 3490.35 55-DMA, Bear channel top 
*RES 3: 3484.66 High Aug 17 
*RES 2: 3467.78 High Aug 23 
*RES 1: 3460.17 21-DMA
*PREVIOUS CLOSE: 3438.55
*SUP 1: 3432.05 Low Aug 23 
*SUP 2: 3411.06 Low Aug 21 
*SUP 3: 3406.72 Bollinger band base 
*SUP 4: 3403.31 200-DMA
*COMMENTARY: The index managed a pop above the 21-DMA Wednesday but follow
through remains lacking on approach to the 55-DMA/bear channel top and
3490.35-3539.48 region as a whole. Bulls look for a close above 3539.48 to end
bearish hopes and initially target 3615.06 June highs. The 3390.04-3411.06
support region is key. Bears need a close below to confirm a break of the
200-DMA and initially focus on 3335.77-3355.40.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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