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1 November 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) Bulls Need Weekly Close Above 100-WMA
*RES 4: 163.43 Monthly high Sept 8
*RES 3: 163.14 100-WMA
*RES 2: 162.89 Low Sept 11 now resistance, Bolli top
*RES 1: 162.83 High Oct 31
*PREVIOUS CLOSE: 162.72
*SUP 1: 162.44 Low Oct 31
*SUP 2: 162.23 Hourly resistance Oct 27 now support
*SUP 3: 161.85 Hourly support Oct 27 
*SUP 4: 161.63 Low Oct 27
*COMMENTARY: The lack of follow through below the 100-DMA & hesitation ahead of
160.59 resulted in a break higher last week, easing bearish pressure with
immediate focus on 162.89-163.14. Bulls need a close above the 100-WMA to hint
at a move back to 2017 highs (166.40) and above 163.43 Sept highs to confirm.
Bears need a close below 162.23 to ease bullish pressure and below 161.63 to
shift focus to 160.59-00 where the bull channel base is found.
BOBL TECHS: (Z17) Topside Hesitation Rings Alarm Bells
*RES 4: 132.03 100-WMA 
*RES 3: 131.98 Monthly High Sept 8 
*RES 2: 131.91 55-WMA 
*RES 1: 131.85 High Oct 27
*PREVIOUS CLOSE: 131.75
*SUP 1: 131.68 Low Oct 31
*SUP 2: 131.57 Hourly support Oct 27
*SUP 3: 131.47 High Oct 23 now support
*SUP 4: 131.29 Hourly resistance Oct 24 now support
*COMMENTARY: Hesitation ahead of last week's high is a concern with the lack of
topside follow through increasing the risk of a correction back to 131.29-47
where 21 (131.43) & 55 (131.40) DMAs are situated. Bears now need a close below
131.57 to ease bullish pressure and shift focus to 131.29-47. Bulls now look for
a close above 131.85 to reconfirm the bullish bias and maintain focus on 55 &
100-WMAs.
SCHATZ TECHS: (Z17) Below 112.230 To Shift Focus Lower
*RES 4: 112.423 Daily Bull channel top 
*RES 3: 112.365 Monthly high Sept 5 (Cont) 
*RES 2: 112.315 High Oct 27 
*RES 1: 112.270 Low Oct 30 now resistance
*PREVIOUS CLOSE: 112.265
*SUP 1: 112.240 Low Oct 27 
*SUP 2: 112.230 High Oct 19 now support 
*SUP 3: 112.200 Alternating hourly support/resistance 
*SUP 4: 112.166 55-DMA, Bull channel base
*COMMENTARY: Hesitation ahead of 2 week highs is a concern for bulls with the
close below 112.270 easing immediate bullish pressure and sees focus back on
112.230-240. Bears continue to look for a close below 112.230 to shift focus to
112.166-200 where the 21-DMA and bull channel base are found. Overall below the
55-DMA and channel base is needed to shift focus to 112.051-105 where the
100-DMA is noted. Bulls need a close above 112.315 to main focus on 112.365-455.
GILT TECHS: (Z17) 123.71 Support Remains Key
*RES 4: 125.00 High Oct 19 
*RES 3: 124.87 Bollinger band top 
*RES 2: 124.75 High Oct 20 
*RES 1: 124.54 High Oct 31
*PREVIOUS CLOSE: 124.33
*SUP 1: 124.03 Low Oct 30 
*SUP 2: 123.71 Hourly support Oct 27 
*SUP 3: 123.44 Low Oct 26 
*SUP 4: 123.34 Bollinger band base
*COMMENTARY: Bulls took comfort in the break of the daily bear channel top and
21-DMA (124.10) that saw focus shift to layers of resistance 124.75-125.49 where
55 & 100-DMAs and the 100-WMA (125.33) are situated. Bulls need a close above
the 100-DMA (125.46) to open up for a move back to 126.67-80. Initial support is
noted 124.03 but bears look for a close below 123.71 to return focus to
123.12-44.
SHORT-STERLING TECHS: (H18) 99.370 Resistance Remains Key
*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: 99.340
*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 contract struggled last week with focus returning to the
99.300-320 support region. Bears continue to look for a close below 2017 lows
(99.300) to shift focus to 99.110-230. Very narrowed Bollinger bands
(98.315-99.365) remain suggestive of a breakout. Bulls need a close above 99.370
to see pressure back on 99.400-410 and above 99.410 to shift focus to
99.435-450.
EURIBOR TECHS: (H18) Pressuring Key Resistance
*RES 4: 100.371 - Daily Bull channel top 
*RES 3: 100.360 - High Oct 6 
*RES 2: 100.330 - High Oct 19 
*RES 1: 100.325 - 2017 High Sept 5-8 & Oct 27 & 30
*PREVIOUS CLOSE: 100.325
*SUP 1: 100.320 - Alternating daily support/resistance
*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 (100.314) & 55 (100.312) DMAs last week lacked
follow through with the contract recovering to repeatedly retest 2017 highs.
Bulls need a close above 100.330 to target 100.360/371. Bears look for a close
below 100.310 to confirm breaks of 21 & 55-DMAs and ease bullish pressure. Below
the 100-DMA (100.299) is needed to end bullish hopes and shift focus back to
100.275-285.
US 10-YR FUTURE TECHS: (Z17) 124-23 Support Key Today
*RES 4: 125-27+ 55-DMA 
*RES 3: 125-25+ High Oct 13, 100-DMA 
*RES 2: 125-16+ Hourly support Oct 16 now resistance 
*RES 1: 125-03+ High Oct 31
*PRICE: 124-26 @ 0530GMT
*SUP 1: 124-23  Low Oct 30 now resistance
*SUP 2: 124-15  Hourly resistance Oct 26 now support
*SUP 3: 124-06  Low Oct 25
*SUP 4: 124-00+ Rising Weekly TL
*COMMENTARY: Bears take comfort in the failure to gain traction on a marginal
break of the 21-DMA (125-01+). With the contract remaining heavy bears now need
a close below 124-23 to gain breathing room and reconfirm immediate focus on the
124-00+/06 support region where the rising weekly TL off 2017 Lows is noted.
Bulls now need a close above 125-03+ to confirm a break of the 21-DMA and shift
focus to 125-16+/27+ where 55 & 100-DMAs are noted.
US 10-YR YIELD TECHS: 2.352 & 2.419 Levels Key
*RES 4: 2.477 - High Oct 25 
*RES 3: 2.445 - Hourly support Oct 26 now resistance 
*RES 2: 2.434 - Hourly resistance Oct 27 
*RES 1: 2.419 - Hourly support Oct 27 now resistance
*PRICE: 2.388 @ 0530GMT
*SUP 1: 2.385 - High Oct 31 now support 
*SUP 2: 2.360 - 21-DMA 
*SUP 3: 2.352 - High Oct 18 now support 
*SUP 4: 2.314 - 200-DMA
*COMMENTARY: Failure to break below 2.352 with support emerging around the
21-DMA sees bulls gain breathing room and looking for a close above 2.419 to
confirm an easing of bearish pressure, return initial focus to 2.477 and overall
focus to 2.544-580 where the bull channel top is found. Bears look for a close
below 2.352 to confirm a break of the 21-DMA and shift focus back to 2.245-2.278
where 55 & 100-DMAs are noted. The 200-DMA may support along the way.
EUROSTOXX50 TECHS: Bulls Targeting 3714.26-3717.12 
*RES 4: 3717.12 Daily Bull channel top 
*RES 3: 3714.26 Monthly High July 20 2015 
*RES 2: 3686.57 High Aug 6 2015 
*RES 1: 3677.66 2017 High Oct 31
*PREVIOUS CLOSE: 3673.95
*SUP 1: 3669.94 Hourly support Oct 31 
*SUP 2: 3655.10 Hourly support Oct 30 
*SUP 3: 3639.81 High Oct 26 now support 
*SUP 4: 3625.87 High Oct 18 now support
*COMMENTARY: Fresh 2017 and 2+ year highs continue and add support to the
bullish case targeting a test of 3714.26-3717.12 where the daily bull channel
top is situated. The Bollinger top (3658.46) remains the key concern for bulls
and hints the move is a little ahead of itself. Layers of resistance continue to
build with bears now needing a close below 3639.81 to ease bullish pressure and
below 3625.87 to shift focus to the channel base (3597.49).
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]