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MNI European Morning FI Technical Analysis 

26 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) Above 162.15 Targets 162.89-163.43
*RES 4: 162.47 Alternating hourly support/resistance
*RES 3: 162.15 Hourly support Sept 12 now resistance
*RES 2: 161.98 High Sept 25
*RES 1: 161.96 21-DMA
*PREVIOUS CLOSE: 161.95
*SUP 1: 161.81 Hourly support Sept 25
*SUP 2: 161.44 Hourly support Sept 25a
*SUP 3: 161.31 Hourly resistance Sept 25 now support
*SUP 4: 161.12 Low Sept 25
*COMMENTARY: The 55 & 100-DMAs (160.66-80) supported last week providing the
impetus for a break of 160.50 with bullish focus now on 162.15. Bulls continue
to look for a close above 162.15 to shift focus back to 162.89-163.43.
Correcting modestly O/S studies add support to the bullish case. Layers of
support are building with bears needing a close below 161.81 to gain breathing
room and below 161.31 to shift focus back to 160.50-80.
BOBL TECHS: (Z17) Focus Shifts To 131.60-64
*RES 4: 131.64 Alternating hourly support/resistance 
*RES 3: 131.60 High Sept 14 
*RES 2: 131.49 High Sept 15 
*RES 1: 131.48 21-DMA
*PREVIOUS CLOSE: 131.41
*SUP 1: 131.37 Hourly support Sept 25
*SUP 2: 131.23 Hourly support Sept 25a
*SUP 3: 131.16 High Sept 22 now support
*SUP 4: 131.06 100-DMA
*COMMENTARY: The sell-off from 131.98 found support around the 55-DMA and ahead
of 130.90 last week with the contract correcting higher Monday, easing bearish
pressure and shifting initial focus to 131.60-64. Bulls now need a close above
131.64 to confirm a break of the 21-DMA and target 131.83-98. Correcting O/S
studies add support to the bullish case. Bears need a close below 131.16 to
shift focus back to the 100-DMA.
SCHATZ TECHS: (Z17) 21-DMA Capping For Now
*RES 4: 112.230 Low Sept 8 & 11 now resistance 
*RES 3: 112.205 High Sept 14 
*RES 2: 112.180 High Sept 25 
*RES 1: 112.171 21-DMA
*PREVIOUS CLOSE: 112.170
*SUP 1: 112.160 Hourly support Sept 25 
*SUP 2: 112.120 Hourly resistance Sept 25 now support 
*SUP 3: 112.100 Low Sept 25 
*SUP 4: 112.065 Low Sept 21
*COMMENTARY: The lack of follow through Wed-Fri courtesy of the Bollinger band
base provided the impetus for a correction Monday that sees the contract
flirting with the 21-DMA. Bulls now need a close above 112.180 to confirm a
break of the 21-DMA and initially pressure 112.230-285 where the 100-DMA
(112.252) is located. Bears need a close below 112.160 to gain breathing room
and below 112.120 to shift focus back to 112.065 Sept lows.
GILT TECHS: (Z17) Above 125.21 To Target 125.87-126.11
*RES 4: 125.21 High Sept 15 
*RES 3: 124.91 Low Sept 14 now resistance 
*RES 2: 124.65 High Sept 19 
*RES 1: 124.36 High Sept 20
*PREVIOUS CLOSE: 124.12
*SUP 1: 123.82 Hourly support Sept 25 
*SUP 2: 123.58 Hourly support Sept 21 
*SUP 3: 123.36 Low Sept 21 
*SUP 4: 123.17 Low Feb 2
*COMMENTARY: Very O/S daily studies looking to correct remain the key concern
for bears. Layers of resistance remain with bulls now needing a close above
124.25 to gain breathing room and above 125.21 to shift focus back to
125.87-126.11 where 21, 55 & 100-DMAs are situated. Initial support is noted at
123.82 with bears needing a close below to ease correction talk and return focus
to 123.36.
SHORT-STERLING TECHS: (H18) Bulls Need Close Above 99.360
*RES 4: 99.450 Low Sept 13 now resistance
*RES 3: 99.410 High Sept 15
*RES 2: 99.390 Monthly Lows June 30 now resistance
*RES 1: 99.360 Highs Sept 18 & 19
*PREVIOUS CLOSE: 99.340
*SUP 1: 99.310 Low Sept 20
*SUP 2: 99.230 High June 21 2016 now support
*SUP 3: 99.110 Monthly Low June 23 2016
*SUP 4: 99.040 Monthly Low May 31 2016
*COMMENTARY: Losses continued for H18 last week with bearish focus on 99.230
with a close below needed to target 98.980-99.040 where Apr & May 2016 lows are
situated. Very O/S studies remain the key concern for bears. Initial resistance
is still noted at 99.360 with bulls needing a close above to gain breathing
room. A close above is needed to shift 99.410 focus back to the 200-DMA
(99.508).
EURIBOR TECHS: (H18) 100.300 Support Now Key
*RES 4: 100.330 - High Oct 19 
*RES 3: 100.325 - 2017 High Sept 5-8 
*RES 2: 100.320 - Repeated Daily highs 
*RES 1: 100.315 - High Sept 25
*PREVIOUS CLOSE: 100.305
*SUP 1: 100.305 - Repeated daily lows Aug & Sept
*SUP 2: 100.300 - Alternating daily support/resistance
*SUP 3: 100.287 - 100-DMA
*SUP 4: 100.285 - Repeated daily lows
*COMMENTARY: The contract remains supported ahead of the 55-DMA (100.301) with a
close below 100.300 needed to confirm a break and initially pressure 100.275-287
where the 100-DMA is located. Modestly O/S studies correcting add support to the
bullish case for a return in pressure to 100.325-330 with bulls now needing a
close above 100.315 to confirm. Bollinger bands (100.303-323) remain flat as
broad sideways trading continues.
US 10-YR FUTURE TECHS: (Z17) Flirting With 55-DMA
*RES 4: 126-170 - 21-DMA 
*RES 3: 126-090 - High Sept 18 
*RES 2: 126-050 - High Sept 20 
*RES 1: 126-040 - High Sept 25, 55-DMA
*PRICE: 126-020 @ 0430GMT
*SUP 1: 125-310 - Hourly resistance Sept 25 now support
*SUP 2: 125-230 - Low Sept 25
*SUP 3: 125-170 - Low Aug 8 & Sept 20
*SUP 4: 125-040 - Low July 26
*COMMENTARY: Consolidation below the 100-DMA (125-280) appears to have ended
with a bounce that sees the contract flirting with the 55-DMA. Bulls continue to
look for a close above 126-090 to hint at a correction back to 126-270. O/S
daily studies correcting add support to the case for a bigger correction. The
125-170/230 support is now key. Bears need a close below 125-230 to ease renewed
bullish pressure and below 125-170 to shift focus lower.
US 10-YR YIELD TECHS: Bears Need Close Below 2.208
*RES 4: 2.290 - High Aug 4 
*RES 3: 2.287 - High Sept 20 
*RES 2: 2.266 - Hourly support Sept 20 now resistance 
*RES 1: 2.232 - Hourly support Sept 25 now resistance
*PRICE: 2.222 @ 0430GMT
*SUP 1: 2.208 - Low Sept 18 
*SUP 2: 2.171 - Hourly resistance Sept 13 now support, 21-DMA 
*SUP 3: 2.143 - Hourly support Sept 12 
*SUP 4: 2.118 - Hourly support Sept 11
*COMMENTARY: The failure at the 2.290 hurdle has left the yield looking heavy
closing back below the 55 (2.224) & 100 (2.236) DMAs. Immediate focus shifts
back to 2.208 with bears needing a close below to target 2.118-171 where the
21-DMA is located. Layers of resistance are building with bulls needing a close
above 2.266 to return immediate pressure to 2.290 and overall focus to 2.329-337
where the 200-DMA is noted.
EUROSTOXX50 TECHS: O/B Daily Studies Key Concern For Bulls 
*RES 4: 3581.70 Bollinger band top 
*RES 3: 3581.43 High June 26 
*RES 2: 3555.37 High June 29 
*RES 1: 3553.08 High Sept 22
*PREVIOUS CLOSE: 3537.81
*SUP 1: 3530.88 Low Sept 25 
*SUP 2: 3520.72 Low Sept 20 
*SUP 3: 3506.61 Low Sept 13 
*SUP 4: 3497.29 High Aug 16 now support
*COMMENTARY: Hesitation ahead of 3539.48 came to an end Thursday with bulls
looking for a close above 3555.37 to confirm initial focus on 3615.06 and
overall focus on 2017 highs. Momentum divergence and O/B studies remain the key
concern for bulls. Support layers remain in place with bears needing a close
below 3530.88 to gain breathing room and below 3497.29 to shift initial focus
back to 3444.64-3477.79 where key DMAs are clustered.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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