MNI European Morning FI Technical Analysis

20 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 Comforted By DMAs Supporting

*RES 4: 163.63 High Nov 8

*RES 3: 163.40 High Nov 9

*RES 2: 163.22 Hourly support Nov 8 now resistance

*RES 1: 163.08 High Nov 15

*PREVIOUS CLOSE: 162.84

*SUP 1: 162.38 21-DMA

*SUP 2: 161.96 55-DMA

*SUP 3: 161.63 Low Oct 27

*SUP 4: 161.55 Daily Bull channel base

*COMMENTARY: The contract is now finding support around the 21-DMA having

bounced form a dip below the 55-DMA last week. Bulls continue to look for a

close above 163.08 to reconfirm immediate focus on 163.63. Bears now look for a

close below the 21-DMA to ease bullish pressure and below the 55-DMA to shift

focus back to the daily bull channel base off July lows. Daily studies are well

placed for a fresh leg higher.

BOBL TECHS: (Z17) 55-DMA Support Remains Key

*RES 4: 132.060 High Nov 8 

*RES 3: 132.010 Hourly support Nov 8 now resistance 

*RES 2: 131.920 Hourly support Nov 7 now resistance 

*RES 1: 131.880 Hourly resistance Nov 9, High Nov 15

*PREVIOUS CLOSE: 131.770

*SUP 1: 131.680 21-DMA

*SUP 2: 131.580 Low Nov 14

*SUP 3: 131.502 55-DMA

*SUP 4: 131.470 High Oct 23 now support

*COMMENTARY: The correction lower from 132.060 3mth highs is flirting with the

21-DMA having failed to gain traction below and the 55-DMA noted just below.

Bulls continue to look for a close above 132.880 to reconfirm immediate focus on

retests of 132.060 with the Bollinger band top noted at 132.126. The 55-DMA

remains key support. Bears need a close below the 55-DMA to confirm a shift in

focus back to 131.090-290.

SCHATZ TECHS: (Z17) 112.230 & 112.315 Levels Remain Key

*RES 4: 112.470 Daily Bull channel top 

*RES 3: 112.365 Monthly high Sept 5 (Cont) 

*RES 2: 112.334 Bollinger band top 

*RES 1: 112.315 High Oct 27

*PREVIOUS CLOSE: 112.260

*SUP 1: 112.240 Low Oct 27 

*SUP 2: 112.230 High Oct 19 now support 

*SUP 3: 112.213 Daily Bull channel top 

*SUP 4: 112.205 55-DMA

*COMMENTARY: Hesitation ahead of previous week's highs remains a concern for

bulls. Bulls continue to look for a close above 112.315 to end correction talk

and confirm focus on 112.365-470. Bears continue to look for a close below

112.230 to confirm a break of the 21-DMA (112.256) and shift focus to

112.180-213 where the bull channel base and 55-DMA are situated. Daily studies

are looking well placed for a fresh leg higher.

GILT TECHS: (Z17) Below 124.25 To End Bullish Hopes

*RES 4: 125.87 High Nov 8 

*RES 3: 125.41 Hourly support Nov 9 now resistance 

*RES 2: 125.19 100-DMA 

*RES 1: 124.95 High Nov 16

*PREVIOUS CLOSE: 124.72

*SUP 1: 124.45 Low Nov 17 

*SUP 2: 124.25 Low Nov 14 

*SUP 3: 123.84 Low Nov 1 

*SUP 4: 123.51 Bollinger band base

*COMMENTARY: The 100-DMA capped last week with bulls now needing a close above

the 100-DMA to confirm focus on 125.87 November highs so far. The Bollinger top

comes in around 125.67 and is likely to limit follow through. The 124.25 support

is seen as key this week. Bears need a close below to confirm a break of the

channel base off Oct lows and return focus to 123.12-17 where Sept & Oct lows

are situated.

SHORT-STERLING TECHS: (H18) 99.400-410 Resistance Remains Key

*RES 4: 99.450 Low Sept 13 now resistance

*RES 3: 99.448 100-DMA

*RES 2: 99.410 High Sept 15

*RES 1: 99.400 Repeated Highs Nov

*PREVIOUS CLOSE: 99.390

*SUP 1: 99.380 Repeated daily lows Nov

*SUP 2: 99.370 Hourly resistance Oct 23 now support

*SUP 3: 99.368 21-DMA

*SUP 4: 99.350 Alternating daily support/resistance

*COMMENTARY: Bulls regained the upper hand with focus having returned to

99.400-410. Bulls look for a close above 99.410 to add support to their case for

a test of 100 (99.448) & 200 (99.493) DMAs. Layers of support remain with bears

needing a close below the 21-DMA to ease bullish pressure and below 99.350 to

shift focus back to 99.300-310 where 2017 lows are noted.

EURIBOR TECHS: (H18) 55-DMA Confirmed Significance

*RES 4: 100.379 - Daily Bull channel top 

*RES 3: 100.360 - High Oct 6 

*RES 2: 100.330 - High Oct 19 

*RES 1: 100.325 - 2017 Repeated Daily Highs Sept, Oct & Nov

*PREVIOUS CLOSE: 100.325

*SUP 1: 100.315 - 55-DMA

*SUP 2: 100.310 - Low Oct 26

*SUP 3: 100.305 - Repeated Daily Lows Oct

*SUP 4: 100.300 - Alternating daily sup/res

*COMMENTARY: The contract remained capped at 100.325 2017 highs during past

week's resulting in a dip back to the 55-DMA which currently supports. bears now

look for a close below the 55-DMA to shift pressure to 100.300-310 where the

daily bull channel base and 100-DMA are located. Below 100.300 is needed to

confirm a break of the 100-DMA, end bullish hopes and shift focus back to

100.275-285. Bulls continue to look for a close 100.330 to target 100.360-379.

US 10-YR FUTURE TECHS: (Z17) 124-16/24+ Support Key Today

*RES 4: 125-25+ Monthly High Oct 13 

*RES 3: 125-20+ 100-DMA 

*RES 2: 125-15+ 55-DMA, Bollinger band top 

*RES 1: 125-07  High Nov 15

*PRICE: 125-03 @ 0530GMT

*SUP 1: 124-24+ Repeated Daily lows

*SUP 2: 124-16  Low Nov 14

*SUP 3: 124-06  Low Oct 25

*SUP 4: 124-02  Rising Weekly TL

*COMMENTARY: The recovery from last week's low failed to trouble the key

125-16+/25+ region where key DMAs are situated. Bulls continue to look for a

close above 125-25+ to confirm breaks of key DMAs, ending bearish hopes and

shifting immediate focus to 126-04+/09. The 124-16/24+ support region is key

with bears needing a close below 124-24+ to gain breathing room and below 124-16

to return focus to the rising weekly TL.

US 10-YR YIELD TECHS: 2.273-319 Support Region Key

*RES 4: 2.434 - Hourly resistance Oct 27 

*RES 3: 2.419 - Hourly support Oct 27 now resistance 

*RES 2: 2.386 - Hourly resistance Nov 14 

*RES 1: 2.356 - Hourly resistance Nov 17

*PRICE: 2.326 @ 0530GMT

*SUP 1: 2.319 - Low Nov 15 

*SUP 2: 2.307 - 200-DMA 

*SUP 3: 2.299 - 55-DMA 

*SUP 4: 2.281 - 100-DMA

*COMMENTARY: The correction lower from the week's high continued to find support

ahead of the 200-DMA with the 2.273-3.319 support region now key. 55, 100 &

200-DMAs are noted in this region with bears now needing a close below 2.273 to

confirm breaks of key DMAs shifting immediate focus to 2.207. Bulls continue to

look for a close above 2.419 to return initial focus to 2.477 and overall focus

to 2.544-580.

EUROSTOXX50 TECHS: Bulls Need Close Above 3588.33 

*RES 4: 3642.10 Low Nov 8 now resistance 

*RES 3: 3624.24 21-DMA 

*RES 2: 3588.33 High Nov 14 

*RES 1: 3578.13 55-DMA

*PREVIOUS CLOSE: 3547.46

*SUP 1: 3541.22 Low Nov 17 

*SUP 2: 3519.35 Low Nov 15 

*SUP 3: 3508.60 200-DMA 

*SUP 4: 3497.29 High Aug 16 now support

*COMMENTARY: Since closing below the daily bull channel base the sell-off has

seen the index dup below the 100-DMA (3527.84) with focus currently on the

3467.78-3508.60 region where the 200-DMA is noted. O/S daily studies looking to

correct are the key concern for bears. Bulls continue to look for a close above

3588.33 to confirm a break of the 55-DMA, easing bearish pressure and above

3642.10 to return focus to 2017 highs.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]