MNI European Morning FI Technical Analysis

21 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) 162.36-46 Support Key Today

*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: 163.16 High Nov 20

*PREVIOUS CLOSE: 162.87

*SUP 1: 162.82 Hourly support Nov 17

*SUP 2: 162.46 21-DMA

*SUP 3: 162.36 Hourly support Nov 14

*SUP 4: 161.98 55-DMA

*COMMENTARY: A lack of topside follow through to start the new week was less

than ideal for bulls who are currently focused on 163.63 Nov highs so far. 55 &

21-DMAs have supported in recent weeks with bears now needing a close below

162.36 to confirm a break of the 21-DMA and ease bullish pressure. Focus then

shifts to 161.59-98 where the 55-DMA and daily bull channel base off July lows

are situated. Bulls now look for a close above 163.16 to add to confidence.

BOBL TECHS: (Z17) Below 21-DMA To Ease Bullish Pressure

*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: 131.810 Hourly resistance Nov 20

*PREVIOUS CLOSE: 131.740

*SUP 1: 131.702 21-DMA

*SUP 2: 131.580 Low Nov 14

*SUP 3: 131.505 55-DMA

*SUP 4: 131.470 High Oct 23 now support

*COMMENTARY: The rejection ahead of last week's high has left the contract

looking a little heavy. The 21-DMA remains initial support with bears needing a

close below to ease bullish pressure. A close below the 55-DMA remains needed to

shift focus back to 131.090-290 where the 100-DMA (131.156) is located. 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 132.119.

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

*RES 4: 112.474 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: 112.250

*SUP 1: 112.240 Low Oct 27 

*SUP 2: 112.230 High Oct 19 now support 

*SUP 3: 112.217 Daily Bull channel base 

*SUP 4: 112.206 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 112.365-474 where the bull channel top is located. Bears

continue to look for a close below 112.230 to confirm a break of the 21-DMA

(112.259) and shift focus to 112.180-217 where the bull channel base and 55-DMA

are situated.

GILT TECHS: (Z17) 124.25-45 Support Region Key

*RES 4: 125.87 High Nov 8 

*RES 3: 125.71 Bollinger band top 

*RES 2: 125.41 Hourly support Nov 9 now resistance 

*RES 1: 125.19 100-DMA

*PREVIOUS CLOSE: 124.96

*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 125.71 and is likely to limit follow through. The 124.25 support

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

the channel base (124.61) off Oct lows and return focus to 123.12-17 where Sept

& Oct lows are situated.

SHORT-STERLING TECHS: (H18) Bears Need Close Below 21-DMA

*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, 21-DMA

*SUP 3: 99.350 Alternating daily support/resistance

*SUP 4: 99.310 Low Nov 1

*COMMENTARY: Sideways trading in a tight 99.380-390 range continues with the

55-DMA now noted at 99.379 and the 21-DMA at 99.370. Bears continue to look for

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. 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.

EURIBOR TECHS: (H18) 55-DMA Continues To Support

*RES 4: 100.380 - 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: 100.320

*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 dips back to the 55-DMA which currently supports. Bears 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) Bears Now Need Close Below 124-16

*RES 4: 125-20+ 100-DMA 

*RES 3: 125-13+ 55-DMA 

*RES 2: 125-07 High Nov 15 

*RES 1: 124-29 Hourly resistance Nov 20

*PRICE: 124-24 @ 0530GMT

*SUP 1: 124-16 Low Nov 14

*SUP 2: 124-10 Bollinger band base

*SUP 3: 124-06 Low Oct 25

*SUP 4: 124-02 Rising Weekly TL

*COMMENTARY: Failure to trouble the 125-07 resistance has left the contract

looking heavy with the break of 124-24+ seeing immediate focus back on the

124-16 support. Bears continue to look for a close below 124-16 to return focus

to the rising weekly TL. Bulls still need a close above 125-07 to gain breathing

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

shifting immediate focus to 126-04+/09.

US 10-YR YIELD TECHS: 2.386-419 Resistance Key

*RES 4: 2.449 - Bollinger band top 

*RES 3: 2.434 - Hourly resistance Oct 27 

*RES 2: 2.419 - Hourly support Oct 27 now resistance 

*RES 1: 2.386 - Hourly resistance Nov 14

*PRICE: 2.367 @ 0530GMT

*SUP 1: 2.347 - Hourly support Nov 20 

*SUP 2: 2.319 - Low Nov 15 

*SUP 3: 2.307 - 200-DMA 

*SUP 4: 2.304 - 55-DMA

*COMMENTARY: The correction lower from the last week's high continues 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 Still Need Close Above 3588.33 

*RES 4: 3642.10 Low Nov 8 now resistance 

*RES 3: 3622.16 21-DMA 

*RES 2: 3588.33 High Nov 14 

*RES 1: 3580.52 55-DMA

*PREVIOUS CLOSE: 3561.41

*SUP 1: 3536.21 Low Nov 20 

*SUP 2: 3519.35 Low Nov 15 

*SUP 3: 3510.02 200-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 on 3467.78-3508.60

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

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]