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MNI European Morning FI Technical Analysis 

19 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) Supported Around Channel Base For Now
*RES 4: 162.47 Alternating hourly support/resistance
*RES 3: 162.15 Hourly support Sept 12 now resistance
*RES 2: 161.82 High Sept 15
*RES 1: 161.51 Hourly resistance Sept 15
*PREVIOUS CLOSE: 161.05
*SUP 1: 160.97 Daily Bull channel base
*SUP 2: 160.86 Low Sept 18
*SUP 3: 160.59 100-DMA
*SUP 4: 160.52 55-DMA
*COMMENTARY: Losses continued Monday with the contract dipping marginally below
the channel base before finding support. Bears remain focused on 160.50-97 where
55 & 100-DMAs and channel base are located. Below the 55-DMA is needed to end
bullish hopes and hint at a test of 2017 lows with below 159.58 to confirm. The
Bollinger base (160.97) is the key concern for bears. Bulls now need a close
above 161.51 to ease bearish pressure and above 162.15 to shift focus higher.
BOBL TECHS: (Z17) Immediate Focus On 100-DMA
*RES 4: 131.60 High Sept 14 
*RES 3: 131.52 21-DMA 
*RES 2: 131.49 High Sept 15 
*RES 1: 131.32 Low Sept 14 now resistance
*PREVIOUS CLOSE: 131.13
*SUP 1: 131.11 Bollinger band base
*SUP 2: 131.08 Low Sept 18
*SUP 3: 131.07 100-DMA
*SUP 4: 130.90 Low Aug 16
*COMMENTARY: Having remained heavy last week bears took comfort in Friday's
close below the bull channel base which sees immediate focus on the 100-DMA and
overall focus on the 55-DMA (130.88). Bears need a close below the 55-DMA to end
bullish hopes and shift overall focus back to tests of 2017 lows. The Bollinger
base is the key concern for bears. Bulls need a close above 131.32 to gain
breathing room and above 131.64 to return focus to 131.87-98.
SCHATZ TECHS: (Z17) Looking A Little Heavy
*RES 4: 112.260 Hourly resistance Sept 8 
*RES 3: 112.225 Hourly support Sept 12 now resistance 
*RES 2: 112.205 High Sept 14 
*RES 1: 112.165 Low Sept 7 now resistance
*PREVIOUS CLOSE: 112.120
*SUP 1: 112.115 Low Sept 18 
*SUP 2: 112.090 Low Aug 25 
*SUP 3: 112.067 Bollinger band base 
*SUP 4: 112.015 Low Aug 17
*COMMENTARY: Bears took comfort in a close below the 21-DMA (112.168) Friday
that sees immediate focus on 112.090. Bears need a close below 112.090 to shift
focus to tests of the 111.981-112.015 region where the 55-DMA is situated. Daily
studies have room to move before O/S is an issue. Initial resistance is noted at
112.170 with bulls needing a close above to ease bearish pressure. Bulls need a
close above 112.225 to shift focus back to 112.285-294.
GILT TECHS: (Z17) Above 124.91 To Ease Bearish Pressure
*RES 4: 127.18 Low Sept 11 now resistance 
*RES 3: 126.80 Low Aug 24 now resistance 
*RES 2: 125.91 55-DMA 
*RES 1: 124.91 Low Sept 14 now resistance
*PREVIOUS CLOSE: 124.45
*SUP 1: 124.00 Low Sept 15 
*SUP 2: 123.17 Low Feb 2 
*SUP 3: 122.60 2017 Low Jan 26 
*SUP 4: 121.64 Low June 23 2016
*COMMENTARY: The dramatic correction from 128.24 took its first backward step
Monday having found support ahead of last week's low. O/S daily studies and the
Bollinger base (124.76) are key concerns for bears and leave the move looking
overdone. In saying that, bulls need a close above 124.91 to gain breathing room
and above the 55-DMA to pressure 126.67-127-18.
SHORT-STERLING TECHS: (Z17) Bulls Need Close Above 99.490
*RES 4: 99.593 55-DMA
*RES 3: 99.559 200-DMA
*RES 2: 99.540 Low Sept 12 now resistance
*RES 1: 99.490 Low Sept 14 now resistance
*PREVIOUS CLOSE: 99.470
*SUP 1: 99.450 Highs Jan 30-Feb 2 now support
*SUP 2: 99.430 Repeated daily lows Jan
*SUP 3: 99.410 2017 Low Jan 27
*SUP 4: 99.389 100-WMA
*COMMENTARY: Price action last week saw June-Sept gains erased in just over a
week with immediate bearish focus now on 99.392-410 where the 100-WMA and 2017
lows are located. Daily studies remain O/S and the Bollinger base (99.492) is
also a key concern for bears. In saying that, bulls need a close above 99.490 to
ease immediate bearish pressure and above the 200-DMA to shift focus to
99.593-600 where 55 & 100-DMAs are found.
EURIBOR TECHS: (H18) Below 55-DMA To Pressure 100-DMA
*RES 4: 100.323 - Bollinger band top 
*RES 3: 100.320 - Repeated Daily highs 
*RES 2: 100.313 - 21-DMA 
*RES 1: 100.310 - Repeated daily lows now resistance
*PREVIOUS CLOSE: 100.310
*SUP 1: 100.305 - Repeated daily lows Aug
*SUP 2: 100.300 - Alternating daily support/resistance
*SUP 3: 100.296 - 55-DMA
*SUP 4: 100.284 - 100-DMA
*COMMENTARY: Topside hesitation ahead of recent 2017 highs took its toll with a
close below 100.310 that confirmed an easing of bullish pressure and sees focus
on the 55-DMA. Bears look for a close below the 55-DMA to initially pressure the
100-DMA and below 100.275 to shift focus to the 200-DMA (100.255). Bulls now
need a close above the 21-DMA to return initial focus to 100.320-325. The
Bollinger base (100.304) is the key concern for bears.
US 10-YR FUTURE TECHS: (Z17) Pressuring 55-DMA
*RES 4: 127-050 - Hourly resistance Sept 11 
*RES 3: 126-270 - Hourly resistance Sept 12 
*RES 2: 126-180 - Hourly resistance Sept 13 & 15 
*RES 1: 126-090 - High Sept 18
*PRICE: 126-060 @ 0430GMT
*SUP 1: 126-010 - Low Aug 17
*SUP 2: 126-000 - 55-DMA 
*SUP 3: 125-290 - Bollinger band base
*SUP 4: 125-270 - 100-DMA
*COMMENTARY: The sell-off from 127-280 continues with immediate pressure on the
55-DMA and the 125-170/126-010 support region as a whole. Below the 55-DMA is
needed to add weight to the bearish case with below 125-170 to confirm focus on
2017 lows. The Bollinger base is the key concern for bears with potential to
limit follow through. Bulls need a close above 126-090 to ease pressure on the
55-DMA and above 126-270 to shift focus higher.
US 10-YR YIELD TECHS: Bears Need Close Below 2.208
*RES 4: 2.290 - High Aug 4 
*RES 3: 2.258 - Daily Bear channel top 
*RES 2: 2.238 - 100-DMA 
*RES 1: 2.233 - 55-DMA
*PRICE: 2.220 @ 0430GMT
*SUP 1: 2.208 - Low Sept 18 
*SUP 2: 2.171 - Hourly resistance Sept 13 now support 
*SUP 3: 2.143 - Hourly support Sept 12 
*SUP 4: 2.118 - Hourly support Sept 11
*COMMENTARY: Bulls regained control Monday with immediate pressure on 55 &
100-DMAs. Bulls look for a close above the daily bear channel top to confirm
breaks of key resistance layers and above 2.290 to confirm focus on 2.333-337
where the 200-DMA (2.332) is situated. Layers of support continue to build with
bears now needing a close below 2.208 to ease bullish pressure and below 2.118
to shift focus back to 2017 lows.
EUROSTOXX50 TECHS: 3539.48 Resistance Remains Key 
*RES 4: 3581.43 High June 26 
*RES 3: 3555.37 High June 29 
*RES 2: 3539.48 Monthly High July 13 
*RES 1: 3537.22 High Sept 18
*PREVIOUS CLOSE: 3526.74
*SUP 1: 3506.61 Low Sept 13 
*SUP 2: 3497.29 High Aug 16 now support 
*SUP 3: 3480.60 Hourly support Sept 11 
*SUP 4: 3468.62 55-DMA
*COMMENTARY: Pressure remains on the key 3539.48 resistance with bulls
continuing to look for a close above to shift initial focus to 3615.06 and
overall focus to 2017 highs (3666.80). Layers of support remain and add support
to the bullish case. Bears still need a close below 3497.29 to ease bullish
pressure and below the 55-DMA to initially pressure the 200-DMA (3436.4250). The
Bollinger top (3539.10) & O/B studies are concerns for bulls.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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