MNI European Morning FI Technical Analysis

11 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) 162.82 Support Now Key

*RES 4: 164.39 Daily Bull channel top B

*RES 3: 163.89 Low June 1 now resistance

*RES 2: 163.43 High Sept 8

*RES 1: 163.11 Hourly resistance Sept 8

*PREVIOUS CLOSE: 163.06

*SUP 1: 162.82 Low Sept 8

*SUP 2: 162.47 Hourly resistance Sept 7 now support

*SUP 3: 164.44 Daily Bull channel base B

*SUP 4: 162.22 Low Sept 7

*COMMENTARY: The daily bull channel base off July 28 lows supported Thursday and

saw immediate pressure on the daily bull channel top that resulted in a pop

above Friday. The sell-off Friday is less than ideal for bulls with the

Bollinger top (163.17) limiting follow through. The 162.82 support is key today

with bears needing a close below to confirm an easing of bullish pressure and to

sees immediate focus on 161.66-162.22 where the 21-DMA is noted.

BOBL TECHS: (Z17) Remains Capped Ahead Of Bull Channel Top

*RES 4: 132.07 Low May 16 now resistance 

*RES 3: 132.00 Daily Bull channel top A 

*RES 2: 131.98 2017 High Sept 8 

*RES 1: 131.87 Hourly resistance Sept 8

*PREVIOUS CLOSE: 131.85

*SUP 1: 131.69 Daily Bull channel base B

*SUP 2: 131.77 Alternating hourly support/resistance

*SUP 3: 131.53 Low Sept 5

*SUP 4: 131.43 21-DMA

*COMMENTARY: Rallies remain capped around the daily bull channel top with the

Bollinger top (131.95) contributing to the recent lack of topside follow through

as bulls remain focused on 132.00-21. Initial support is noted at 131.75 with

bears needing a close below to ease bullish pressure and shift immediate focus

back to 131.42-53. Below 131.42 is needed to pressure the longer term bull

channel base (131.16).

SCHATZ TECHS: (Z17) Below 112.215 Targets 112.130-165

*RES 4: 112.305 Low Mar 7 now resistance 

*RES 3: 112.299 Daily Bull channel top 

*RES 2: 112.285 High Sept 8 

*RES 1: 112.260 Hourly resistance Sept 8

*PREVIOUS CLOSE: 112.245

*SUP 1: 112.230 Low Sept 8 

*SUP 2: 112.215 Hourly resistance Sept 7 now support 

*SUP 3: 112.195 Hourly resistance Sept 7a now support 

*SUP 4: 112.165 Low Sept 7, Daily Bull channel base

*COMMENTARY: The daily bull channel top continues to cap with Friday's sell-off

less than ideal for bulls as the Bollinger top (112.270) limits follow through.

Bears now look for a close below 112.215 to signal a correction back to

112.130-165 where the 21-DMA is located. Initial resistance is noted at 112.260

with bulls needing a close above to ease pressure on 112.215 and retain focus on

112.299-345 where the bull channel top and 100-DMA are situated.

GILT TECHS: (Z17) Hesitating Around Bull Channel Top

*RES 4: 129.19 Monthly High June 14 

*RES 3: 128.68 High June 21 

*RES 2: 128.24 High Sept 8, Daily bull channel top 

*RES 1: 127.87 Hourly support Sept 8 now resistance

*PREVIOUS CLOSE: 127.71

*SUP 1: 127.59 Hourly support Sept 7 

*SUP 2: 127.24 Hourly support Sept 5 

*SUP 3: 127.09 21-DMA 

*SUP 4: 127.07 Daily Bull channel base

*COMMENTARY: Bulls failed to capitalise on last week's rally with the correction

lower from fresh weekly highs less than ideal. The 127.59 support is key today

with bears needing a close below to confirm focus on 127.07-24 where the bull

channel base and 21-DMA are located. Bulls now need a close above 127.87 to gain

breathing room and retain focus on 128.68-129.19. The Bollinger top (127.94)

remains the key concern for bulls.

SHORT-STERLING TECHS: (Z17) Pressuring Key Supports

*RES 4: 99.728 Daily Bull channel top

*RES 3: 99.690 2017 Highs June 12 & 13

*RES 2: 99.670 High Sept 5 & 6

*RES 1: 99.660 Repeated daily highs Sept

*PREVIOUS CLOSE: 99.640

*SUP 1: 99.640 Repeated Daily Lows Aug-Sept

*SUP 2: 99.630 Repeated Daily Lows Aug, Bollinger base

*SUP 3: 99.620 Low Aug 8 & 9

*SUP 4: 99.600 100-DMA

*COMMENTARY: A double daily top has been left in place at 99.670 with the

bearish close below the 21-DMA (99.650) and daily bull channel base (99.660)

pressuring the key 99.630-640 support region. Bears continue to look for a close

below 99.630 to ease bullish pressure and shift immediate focus to 99.590-600

where 55 & 100-DMAs are located. Bulls need a close above 99.6660 to gain

breathing room.

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: 100.325 - 2017 High Sept 5-8 

*RES 1: 100.321 - Bollinger band top

*PREVIOUS CLOSE: 100.315

*SUP 1: 100.312 - 21-DMA

*SUP 2: 100.311 - Daily Bull channel base

*SUP 3: 100.300 - Low Aug 11 - 16

*SUP 4: 100.291 - 55-DMA

*COMMENTARY: The contract remains supported ahead of the 21-DMA as it has for

most of August with fresh 2017 highs seen Tuesday. Bulls remain focused on the

100.330-415 resistance region where the bull channel top is located. The

Bollinger top remains the key concern for bulls and limits follow through. Bears

continue to look for a close below 100.300 to ease bullish pressure and below

100.275 to signal a correction that initially targets the 200-DMA (100.253).

US 10-YR FUTURE TECHS: (Z17) 127-120/190 Resistance Key Today

*RES 4: 127-290 - Daily bull channel top 

*RES 3: 127-280 - High Sept 8 

*RES 2: 127-190 - Hourly support Sept 7 now resistance 

*RES 1: 127-120 - Low Sept 8 now resistance

*PRICE: 127-060 @ 0430GMT

*SUP 1: 126-300 - High Sept 4 now support

*SUP 2: 126-240 - Low Sept 5

*SUP 3: 126-220 - 21-DMA

*SUP 4: 126-190 - Low Sept 1

*COMMENTARY: Bulls managed a pop above the 127-270 level Friday but the lack of

topside follow through and the Bollinger top (127-190) remain concerns for bulls

with O/B studies looking to correct. The 126-300 support remains key with bears

needing a close below to shift initial focus back to 126-190/240. Bulls now need

a close above 127-190 to ease bearish pressure and return focus to

127-280/128-220.

US 10-YR YIELD TECHS: 2.115-180 Resistance Key

*RES 4: 2.166 - Hourly resistance Aug 31 

*RES 3: 2.159 - 21-DMA 

*RES 2: 2.148 - High Sept 5 

*RES 1: 2.115 - Hourly resistance Sept 5a

*PRICE: 2.094 @ 0430GMT

*SUP 1: 2.075 - High Sept 8 now support 

*SUP 2: 2.039 - Hourly resistance Sept 8 now support 

*SUP 3: 2.016 - 2017 Low Sept 8 

*SUP 4: 1.991 - Low Nov 10

*COMMENTARY: Bears failed to manage a weekly close below the 100-WMA (2.054)

with downside follow through lacking Friday on fresh 2017 and 10mth lows. The

gapping move higher is less than ideal for bears who are initially focused on

1.991 and then the key 1.879 support. Layers of resistance remain with bulls

needing a 2.115 to ease bearish pressure and above 2.180 to shift initial focus

back to 2.206-2.229.

EUROSTOXX50 TECHS: Bulls Need Close Above Channel Top 

*RES 4: 3529.99 High July 20 

*RES 3: 3497.29 High Aug 16 

*RES 2: 3469.14 Daily Bear channel top 

*RES 1: 3467.78 High Aug 23

*PREVIOUS CLOSE: 3447.69

*SUP 1: 3432.40 Hourly support Sept 6 

*SUP 2: 3417.01 Hourly resistance Sept 6 now support 

*SUP 3: 3395.03 Hourly resistance Aug 29 now support 

*SUP 4: 3373.52 Hourly support Aug 29

*COMMENTARY: The recovery from last week's low resulted in a pop higher Thursday

that remained capped ahead of the 55-DMA (3467.55) and daily bear channel top.

Bulls look for a close above the bear channel top to confirm an easing of

bearish pressure and shift immediate focus to 3497.29-3539.48. Daily studies

have room to move but the Bollinger top (3480.10) is likely to limit follow

through. Bears still need a close below 3395.03 to return focus to 3363.68.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]