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MNI European Morning FI Technical Analysis 

5 September 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: (Z17) 21-DMA Support Remains Key
*RES 4: 163.14 Daily Bull channel top
*RES 3: 162.81 Monthly High Aug 29
*RES 2: 162.76 Bollinger band top
*RES 1: 162.42 High Aug 31
*PREVIOUS CLOSE: 162.15
*SUP 1: 162.02 Low Sept 4
*SUP 2: 161.66 Low Sept 1
*SUP 3: 161.55 21-DMA
*SUP 4: 161.14 Low Aug 18
*COMMENTARY: The lack of topside follow through Tuesday resulted in a sell-off
that broke the daily bull channel base and saw pressure back on 161.55-66 where
the 21-DMA is noted. Bears look for a close below the 21-DMA to add weight to
the case for a test of 160.29-52 where 55 & 100-DMAs & the bull channel base are
located. Bulls now need a close above 162.42 to return focus to 162.81-163.14
where the bull channel top is situated.
BOBL TECHS: (Z17) 131.42 Support Key
*RES 4: 131.92 Daily Bull channel top 
*RES 3: 131.79 Bollinger band top 
*RES 2: 131.76 Monthly High Aug 29 
*RES 1: 131.66 High Aug 30
*PREVIOUS CLOSE: 131.60
*SUP 1: 131.54 Low Sept 4
*SUP 2: 131.42 Low Sept 1
*SUP 3: 131.27 Low Aug 25, 21-DMA
*SUP 4: 131.09 100-DMA
*COMMENTARY: The dip Friday found support just below the daily bull channel base
(131.552) with bulls taking comfort as support layers build. The Bollinger top
and O/B studies remain the key concerns for bulls who need a close above 131.76
to reconfirm the bullish bias targeting the longer term bull channel top. Bears
now look for a close below 131.42 to confirm an easing of bullish pressure and
shift initial focus to 131.04-27.
SCHATZ TECHS: (Z17) Bears Need Close Below 112.135
*RES 4: 112.240 Low Aug 30 now resistance (Continuation) 
*RES 3: 112.237 Daily Bull channel top 
*RES 2: 112.219 Bollinger band top 
*RES 1: 112.205 High Sept 4
*PREVIOUS CLOSE: 112.205
*SUP 1: 112.175 Low Sept 4 
*SUP 2: 112.135 Low Aug 30, Daily Bull channel base 
*SUP 3: 112.090 Low Aug 25 
*SUP 4: 112.085 21-DMA
*COMMENTARY: Bulls continue to dominate with the Bollinger top the key concern.
Immediate bullish focus remains on the 112.237-240 region where the bull channel
top is situated. Initial support is noted at 112.175 with bears needing a close
below to ease immediate bullish pressure. Bears then look for a close below
112.135 to shift focus back to 112.085-090 where the 21-DMA is noted. Below the
21-DMA targets the 55-DMA (111.948).
GILT TECHS: (Z17) 21-DMA Support Remains Key
*RES 4: 127.71 Bollinger band top 
*RES 3: 127.54 High Aug 30 
*RES 2: 127.44 High Sept 1 
*RES 1: 127.26 Hourly resistance Sept 1
*PREVIOUS CLOSE: 127.07
*SUP 1: 127.01 Daily Bull channel base 
*SUP 2: 126.80 Low Aug 24 
*SUP 3: 126.76 21-DMA 
*SUP 4: 126.49 Low Aug 23
*COMMENTARY: Lower daily highs and lows the latter part of last week are
weighing with a dip below the bull channel base Friday and focus now on the
21-DMA. Bears need a close below the 21-DMA to confirm an easing of bullish
pressure and to shift focus to 125.93-126.49 where 55 & 100-DMAs are noted.
Bulls look for a close above 127.54 to return focus to 127.83-128.10 where the
bull channel top it noted.
SHORT-STERLING TECHS: (Z17) Bulls Focused On 99.680-717
*RES 4: 99.717 Daily Bull channel top
*RES 3: 99.690 2017 Highs June 12 & 13
*RES 2: 99.660 High Aug 29 & 31, Sept 1 & 4
*RES 1: 99.659 Bollinger band top
*PREVIOUS CLOSE: 99.650
*SUP 1: 99.640 Low Aug 29 & 31, 21-DMA, Bull channel base
*SUP 2: 99.630 Repeated Daily Lows Aug
*SUP 3: 99.621 Bollinger band base
*SUP 4: 99.620 Low Aug 8 & 9
*COMMENTARY: Sideways trading 99.630-650 came to an end Tuesday with fresh 2mth
highs reconfirming the bullish bias and seeing bulls focused on 99.680-717 where
the bull channel top is noted. Layers of support remain with bears needing a
close below 99.630 to ease bullish pressure and below 99.610 to pressure 55
(99.587) & 100 (99.601) DMAs. The Bollinger top remains the key concern for
bulls.
EURIBOR TECHS: (H18) Bears Need Close Below 100.300
*RES 4: 100.360 - High Oct 6 
*RES 3: 100.330 - High Oct 19 
*RES 2: 100.322 - Bollinger band top 
*RES 1: 100.320 - 2017 High Sept 1 & 4
*PREVIOUS CLOSE: 100.320
*SUP 1: 100.309 - 21-DMA
*SUP 2: 100.300 - Low Aug 11 - 16
*SUP 3: 100.289 - 55-DMA
*SUP 4: 100.285 - Repeated daily lows July & Aug
*COMMENTARY: Pressure on 100.315 took its toll with fresh 2017 and 11mth highs
that add support to the case for a test of the 100.330-370 resistance region.
The Bollinger top is the key concern and currently limits follow through. Layers
of support remain with bears needing a close below 100.300 to ease bullish
pressure and below 100.285 to signal a correction that initially targets the
100-DMA (100.277). While 100.300 supports bull continue to target 100.330-370.
US 10-YR FUTURE TECHS: (Z17) Bulls Need Close Above 126-300
*RES 4: 127-170 - Daily Bull channel top 
*RES 3: 127-100 - 2017 High Aug 29 
*RES 2: 127-070 - High Sept 1 
*RES 1: 126-300 - High Sept 4
*PRICE: 126-290 @ 0430GMT
*SUP 1: 126-190 - Low Sept 1
*SUP 2: 126-130 - 21-DMA
*SUP 3: 126-080 - Daily Bull channel base
*SUP 4: 126-060 - Low Aug 23
*COMMENTARY: The lack of topside follow through and rejection ahead of the 2017
high Friday is a concern for bulls with the Bollinger top (127-040) limiting
follow through and daily studies correcting from O/B. In saying that, layers of
support remain with bears needing a close below 126-190 to see pressure on the
126-060/130 region where the bull channel base and 21-DMA are situated. Bulls
need a close above 126-300 today.
EUROSTOXX50 TECHS: Bears Need Close Below 3412.26 
*RES 4: 3476.01 55-DMA 
*RES 3: 3467.78 High Aug 23 
*RES 2: 3444.98 21-DMA 
*RES 1: 3438.41 Hourly support Sept 1 now resistance
*PREVIOUS CLOSE: 3430.42
*SUP 1: 3412.26 High Aug 30 now support 
*SUP 2: 3395.03 Hourly resistance Aug 29 now support 
*SUP 3: 3373.52 Hourly support Aug 29 
*SUP 4: 3363.68 Low Aug 29
*COMMENTARY: Bulls took comfort in the close above the 200-DMA Thursday that saw
them gain breathing room but layers of resistance 3467.78-3539.48 remain key.
Bulls need a close above 3497.29 to confirm breaks of the 55-DMA and bear
channel top and to pressure 3519.04-3539.48. A close above 3539.48 is needed to
shift focus higher. Bears look for a close below 3412.26 to return focus to the
bear channel base 3337.82.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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