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MNI European Morning FI Technical Analysis 

25 October 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) 100-DMA Support Remains Key
*RES 4: 162.56 High Oct 19
*RES 3: 162.04 Low Oct 19 now resistance
*RES 2: 161.78 High Oct 23
*RES 1: 161.35 Low Oct 20 now resistance
*PREVIOUS CLOSE: 161.20
*SUP 1: 161.14 Daily Bull channel base
*SUP 2: 160.96 100-DMA 
*SUP 3: 160.59 Low Oct 6 
*SUP 4: 160.53 Bollinger band base
*COMMENTARY: A double daily top & daily studies looking to correct from O/B
provided the setup for the sell-off Friday that sees bears focused on
160.94-161.14 where the bull channel base and 100-DMA are noted. Below the
100-DMA hints at a move to 159.58-79 with below 160.24 to confirm. Resistance
layers are accumulating with bulls needing a close above 162.04 to ease
immediate bearish pressure increase the risk of a correction back to 162.56-89.
BOBL TECHS: (Z17) Bearish Confidence Growing
*RES 4: 131.63 Hourly support Oct 18 now resistance 
*RES 3: 131.47 High Oct 23 
*RES 2: 131.38 Hourly support Oct 23 now resistance 
*RES 1: 131.29 Hourly resistance Oct 24
*PREVIOUS CLOSE: 131.24
*SUP 1: 131.18 Low Oct 24
*SUP 2: 131.13 Low Oct 11
*SUP 3: 131.03 100-DMA
*SUP 4: 131.02 Bollinger band base
*COMMENTARY: Closes below 21 (131.34) & 55 (131.36) DMAs Tuesday add weight to
the bearish case that sees focus currently on 130.90-131.13 where the 100-DMA
and Sept lows are found. Bears look for a close below 130.90 to pressure the
bear channel base (130.76). Daily studies remain well placed for losses. Bulls
need a close above 131.47 to return focus to 131.63-83 where the daily bear
channel top off Sept highs and Bollinger top are noted.
SCHATZ TECHS: (Z17) Immediate Focus On 55-DMA
*RES 4: 112.230 High Oct 19 
*RES 3: 112.220 High Oct 23 
*RES 2: 112.200 Hourly support Oct 23 now resistance 
*RES 1: 112.180 Hourly resistance Oct 24
*PREVIOUS CLOSE: 112.170
*SUP 1: 112.165 Low Oct 24 
*SUP 2: 112.143 55-DMA, Daily Bull channel base 
*SUP 3: 112.105 Low Oct 6 
*SUP 4: 112.065 Low Sept 21
*COMMENTARY: Bears are gaining confidence with a close below the 21-DMA
(112.174) that sees pressure on the 55-DMA and bull channel base. Bears need a
close below the 55-DMA to add weight to the case for a test of 112.065 Sept
lows. Daily studies are well placed for losses but the Bollinger base is likely
to become a concern and limit follow through. Bulls need a close above 112.200
to gain breathing room and above 112.285 to target 112.360.
GILT TECHS: (Z17) Bulls Need Close Above 124.75
*RES 4: 125.27 100-WMA 
*RES 3: 125.00 High Oct 19 
*RES 2: 124.75 High Oct 20 
*RES 1: 124.22 Low Oct 20 now resistance
*PREVIOUS CLOSE: 124.14
*SUP 1: 123.96 Low Oct 24 
*SUP 2: 123.70 Rising daily TL 
*SUP 3: 123.46 Low Oct 13 
*SUP 4: 123.32 Low Oct 6
*COMMENTARY: Hesitation around the 125.00 level last week took its toll Friday
with a sell-off that sees bearish focus shift to layers of support 123.12-70
where Sept low sand rising daily TL off Sept lows are located. Daily studies are
well placed for a fresh leg lower. Layers of resistance are again building with
bulls needing a close above 124.75 to ease bearish pressure and shift focus to
125.00-63 where key DMAs and the 100-WMA are noted.
SHORT-STERLING TECHS: (H18) 99.330 Support Remains Key
*RES 4: 99.450 Low Sept 13 now resistance
*RES 3: 99.410 High Sept 15
*RES 2: 99.400 High Oct 20
*RES 1: 99.370 Hourly resistance Oct 23
*PREVIOUS CLOSE: 99.350
*SUP 1: 99.330 Low Oct 18
*SUP 2: 99.320 Hourly resistance Oct 17 now support
*SUP 3: 99.300 2017 Low Oct 17
*SUP 4: 99.230 High June 21 2016 now support
*COMMENTARY: The recovery from 2017 and 16mth lows saw a pop higher Friday
although follow through has been lacking. Bulls continue to look for a close
above 99.410 to shift immediate focus to 99.450-453 where the 55-DMA is located
Bulls retain the advantage while 99.330 supports with bears needing a close
below 99.330 to shift pressure back to 2017 lows. Very narrowed Bollinger bands
remain suggestive of a breakout.
EURIBOR TECHS: (H18) Bears Need Close Below 55-DMA
*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: 100.320 - Repeated Daily highs
*PREVIOUS CLOSE: 100.315
*SUP 1: 100.315 - Repeated daily highs Sept & Oct now support
*SUP 2: 100.311 - 55-DMA, 21-DMA
*SUP 3: 100.305 - Repeated Daily Lows Oct
*SUP 4: 100.300 - Alternating daily support/resistance
*COMMENTARY: Support at 100.305 provided the base for a break of 100.315 with
bulls focused on 100.320-325 where 2017 highs are situated. Overall a close
above 100.330 is needed to target 100.360. Bears now look for a close below the
55-DMA to ease bullish pressure and shift focus to layers of support 100.296-305
where the bull channel base and 100-DMA are found. Overall bears need a close
below the channel base (100.296) to shift focus to 100.285.
US 10-YR FUTURE TECHS: (Z17) Bears Now Need Close Below 124-14
*RES 4: 125-25+ High Oct 13 
*RES 3: 125-16+ Hourly support Oct 16 now resistance 
*RES 2: 125-05+ Hourly support Oct 19 now resistance 
*RES 1: 125-01+ Hourly resistance Oct 20
*PRICE: 124-21+ @ 0430GMT
*SUP 1: 124-18 Low Oct 6
*SUP 2: 124-14 Monthly Lows July 6 & 7
*SUP 3: 124-12+ Daily Bear channel base A
*SUP 4: 123-15+ Daily Bear channel base B
*COMMENTARY: Resistance layers continue to build and weigh following last week's
failure ahead of the 125-16+ resistance and the bear channel top (125-04+).
Bulls currently need a close above 125-05+ to gain breathing room and above
125-16+ to return focus to 125-25+/126-09 where 55 & 100-DMAs are situated.
Bears initially focus on 124-12+/14 and then the channel base (123-15+) off Sept
highs. The Bolli base (124-22+) is the key concern for bears.
US 10-YR YIELD TECHS: Above 2.437 Targets 2017 Highs
*RES 4: 2.558 - Low Mar 13 now resistance 
*RES 3: 2.544 - High Mar 17 
*RES 2: 2.530 - Daily Bull channel top 
*RES 1: 2.437 - High Mar 23
*PRICE: 2.417 @ 0430GMT
*SUP 1: 2.394 - Hourly support Oct 24 
*SUP 2: 2.363 - Hourly support Oct 23 
*SUP 3: 2.350 - Hourly support Oct 20 
*SUP 4: 2.332 - Alternating hourly support/resistance
*COMMENTARY: Bulls take comfort in fresh 7mth highs following the bounce from
ahead of the 2.332-350 support region that sees immediate pressure on 2.437.
Bulls now need a close above this level to shift immediate focus to 2.544-558
and overall focus back to tests of 2017 highs (2.628). Support layers are
building with bears needing a close below 2.350 to ease bullish pressure and
below the 200-DMA (2.313) to shift focus back to 2.244-278.
EUROSTOXX50 TECHS: 3582.07 & 3625.87 Levels Remain Key 
*RES 4: 3666.80 2017 High May 8 
*RES 3: 3650.83 High May 11 
*RES 2: 3638.23 Bollinger band top 
*RES 1: 3625.87 High Oct 18
*PREVIOUS CLOSE: 3610.69
*SUP 1: 3610.36 Daily Bull channel base 
*SUP 2: 3597.97 21-DMA 
*SUP 3: 3582.07 Hourly resistance Sept 29 now support 
*SUP 4: 3556.50 Low Sept 28
*COMMENTARY: The 3625.87 resistance remains key and continues to cap providing
dips back towards the 21-DMA and daily bull channel base. Bears continue to look
for a close below 3582.07 to hint at a move back to 3506.61-3529.19 where 55 &
100-DMAs are noted. Bulls still need a close above 3625.87 to reconfirm the
bullish bias and target 2017 highs and then the daily bull channel top coming in
around 3710.90 today.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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