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MNI European Morning FI Technical Analysis 

27 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) Above 162.04 To Shift Focus To 162.44-163.43
*RES 4: 162.89 Low Sept 11 now resistance
*RES 3: 162.56 High Oct 19
*RES 2: 162.44 55-WMA
*RES 1: 162.04 Low Oct 19 now resistance
*PREVIOUS CLOSE: 161.69
*SUP 1: 161.35 Alternating hourly support/resistance
*SUP 2: 160.92 100-DMA 
*SUP 3: 160.76 Low Oct 25
*SUP 4: 160.59 Low Oct 6
*COMMENTARY: The lack of follow through below the 100-DMA and hesitation ahead
of 160.59 has resulted in a break higher, easing bearish pressure with immediate
focus on 162.04. Bulls continue to look for a close above 162.04 to confirm
focus on layers of resistance 162.44-163.43 where WMAs, monthly highs, Bollinger
top and the bear channel top are situated. Layers of support are building with
bears needing a close below 161.35 to return focus to 160.59-76.
BOBL TECHS: (Z17) 131.29-47 Support Region Now Key
*RES 4: 131.83 High Sept 11 
*RES 3: 131.76 High Oct 17 
*RES 2: 131.69 Daily Bear channel top 
*RES 1: 131.63 Hourly support Oct 18 now resistance
*PREVIOUS CLOSE: 131.49
*SUP 1: 131.47 High Oct 23 now support
*SUP 2: 131.29 Hourly resistance Oct 24 now support
*SUP 3: 131.13 Low Oct 26
*SUP 4: 131.09 Low Oct 24
*COMMENTARY: Bulls gained the upper hand with an aggressive rally that eased
bearish pressure and now sees focus shift to 131.63-83 where the bear channel
top and Bollinger top (131.67) are located. Daily studies are now well placed
for gains with the Bollinger top the key concern for bulls. Bears now need a
close below 131.47 to gain breathing room and below 131.29 to confirm breaks of
21 (131.34) & 55 (131.37) DMAs and return focus to 130.90-131.09.
SCHATZ TECHS: (Z17) 112.200-230 Support Now Key
*RES 4: 112.365 Monthly high Sept 5 (Cont) 
*RES 3: 112.285 Monthly high Sept 8 
*RES 2: 112.281 Daily Bull channel top A 
*RES 1: 112.260 High Oct 26
*PREVIOUS CLOSE: 112.250
*SUP 1: 112.230 High Oct 19 now support 
*SUP 2: 112.200 Alternating hourly support/resistance 
*SUP 3: 112.180 Hourly resistance Oct 24 now support 
*SUP 4: 112.154 55-DMA, Daily Bull channel base
*COMMENTARY: The daily bull channel base and 55-DMA confirmed significance and
provided the base for an aggressive rally and bullish close that sees immediate
focus on 112.260-285 where the inside bull channel top is noted. Bulls look for
a close above 112.285 to confirm focus on 112.365-414 where the outside bull
channel top is found. Bears now need a close below 112.230 to gain breathing
room and below 112.200 to return pressure to the 55-DMA and channel base.
GILT TECHS: (Z17) 122.60-123.12 Support Region Key
*RES 4: 124.32 Daily Bear channel top 
*RES 3: 124.27 High Oct 25 
*RES 2: 124.05 21-DMA 
*RES 1: 123.96 Low Oct 24 now resistance
*PREVIOUS CLOSE: 123.60
*SUP 1: 123.44 Low Oct 26 
*SUP 2: 123.28 Bollinger band base 
*SUP 3: 123.17 Low Oct 25 
*SUP 4: 123.12 Monthly Low Sept 28
*COMMENTARY: Hesitation around the Bolli base is a concern for bears with
support layers starting to build. Bears look for a close below 123.12 to shift
immediate focus to 2017 lows (122.60) and overall focus to the bear channel base
(120.60). Bulls now need a close above the channel top to ease bearish pressure
and shift focus to 124.75-125.55 where 55 (125.37) & 100 (125.55) DMAs are
located.
SHORT-STERLING TECHS: (H18) Narrowed Bollis Suggesting Breakout
*RES 4: 99.410 High Sept 15
*RES 3: 99.400 High Oct 20
*RES 2: 99.370 Hourly resistance Oct 23
*RES 1: 99.350 Lows Oct 23 & 24 now resistance
*PREVIOUS CLOSE: 99.330
*SUP 1: 99.320 Hourly resistance Oct 17 now support
*SUP 2: 99.300 2017 Low Oct 17
*SUP 3: 99.230 High June 21 2016 now support
*SUP 4: 99.110 Monthly Low June 23 2016
*COMMENTARY: The recovery from 2017 and 16mth lows saw a pop higher last Friday
although follow through has been lacking. The close below the 21-DMA (99.338)
eased bullish pressure and sees focus back on 99.300 2017 lows. Bears look for a
close below 2017 lows to shift focus to 99.110-230. Very narrowed Bollinger
bands (98.312-99.364) remain suggestive of a breakout. Bulls now need a close
above 99.370 to see pressure back on 99.390-410.
EURIBOR TECHS: (H18) Supported Below 21 & 55-DMAs
*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: 100.320
*SUP 1: 100.315 - Hourly support Oct 26
*SUP 2: 100.310 - Low Oct 26
*SUP 3: 100.305 - Repeated Daily Lows Oct
*SUP 4: 100.300 - Alternating daily support/resistance
*COMMENTARY: The dip below the 21 (100.312) & 55 (100.311) DMAs lacked follow
through with the contract recovering for a relatively bullish close that sees
focus back on the 100.320-330 region. Bulls need a close above 100.330 to target
100.360. Bears now look for a close below 100.310 to confirm breaks of 21 &
55-DMAs and ease bullish pressure. Below the bull channel base (100.298) is
needed to end bullish hopes and shift focus back to 100.275-285.
US 10-YR FUTURE TECHS: (Z17) Below 124-00+ Targets 123-09+/10+
*RES 4: 125-01+ Hourly resistance Oct 20 
*RES 3: 124-28 Hourly support Oct 23 now resistance 
*RES 2: 124-23+ High Oct 26 
*RES 1: 124-15 Hourly resistance Oct 26
*PRICE: 124-10 @ 0430GMT
*SUP 1: 124-06 Low Oct 25
*SUP 2: 124-00+ Rising Weekly TL
*SUP 3: 123-10+ Monthly Low Mar 10
*SUP 4: 123-09+ Daily Bear channel base B
*COMMENTARY: The failure to gain traction above 124-12+ has left the contract
looking heavy again with immediate focus on 124-00+/124-06 where the rising
weekly TL is located. Bears look for a close below to shift focus to
123-09+/123-10+ where the bear channel base is noted. Bulls now need a close
above 124-23+ to gain breathing room and above the 125-05+ to shift focus to
125-16+/30+ where 55 & 100-DMAs are situated.
US 10-YR YIELD TECHS: Focus Remains On 2.544-558
*RES 4: 2.558 - Low Mar 13 now resistance 
*RES 3: 2.550 - Daily Bull channel top 
*RES 2: 2.544 - High Mar 17 
*RES 1: 2.475 - High Oct 25
*PRICE: 2.461 @ 0430GMT
*SUP 1: 2.444 - Hourly support Oct 27 
*SUP 2: 2.408 - Low Oct 26 
*SUP 3: 2.394 - Hourly support Oct 24 
*SUP 4: 2.363 - Hourly support Oct 23
*COMMENTARY: Bears failed to trouble the 2.394 support Thursday with bulls
asserting dominance and now looking for a close above 2.475 to add support to
the case for a test of 2.544-558. Bulls need a close above 2.558 to confirm
focus on 2017 highs. The 2.394 support remains key. Bears need a close below
2.394 to ease bullish pressure and below the 21-DMA (2.347) to initially
pressure the 200-DMA (2.314) and hint at a correction back to 2.251-279.
EUROSTOXX50 TECHS: Bulls Back In Control 
*RES 4: 3701.78 Daily Bull Channel top (redrawn) 
*RES 3: 3666.80 2017 High May 8 
*RES 2: 3650.83 High May 11 
*RES 1: 3639.81 High Oct 26
*PREVIOUS CLOSE: 3637.20
*SUP 1: 3625.87 High Oct 18 now support 
*SUP 2: 3604.50 21-DMA 
*SUP 3: 3580.21 Low Oct 26 
*SUP 4: 3578.44 Bollinger band base
*COMMENTARY: Bears failed to capitalize on the close below the 21-DMA with the
index recovering from a dip below the old channel base Thursday to trade at
fresh 5mth highs and reconfirm focus on 3666.80-3701.78 where 2017 highs and
redrawn bull channel top are located. The 3580.21-3604.50 support where the
21-DMA is noted is now key. Bears need a close below the 21-DMA to ease bullish
pressure and below 3580.21 to hint at a move back to 3506.61-3529.19.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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