MNI European Morning FI Technical Analysis

22 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 Focused On 163.40-75 Region

*RES 4: 163.75 Bollinger band top

*RES 3: 163.63 High Nov 8

*RES 2: 163.40 High Nov 9

*RES 1: 163.27 High Nov 21

*PREVIOUS CLOSE: 163.19

*SUP 1: 162.82 Hourly support Nov 17

*SUP 2: 162.52 21-DMA

*SUP 3: 162.36 Hourly support Nov 14

*SUP 4: 161.99 55-DMA

*COMMENTARY: Bulls made up for Monday's dip with higher daily highs and lows

adding to bullish confidence. Bulls remain focused on the 163.40-75 region where

Nov highs so far and the Bollinger band top are situated. Bears now look for a

close below 162.82 to gain breathing room and below 162.36 to confirm a break of

the 21-DMA and shift focus to 161.63-99 where the 55-DMA and bull channel base

off July lows are situated. Daily studies are well placed for fresh leg higher.

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

*RES 4: 132.010 Hourly support Nov 8 now resistance 

*RES 3: 131.920 Hourly support Nov 7 now resistance 

*RES 2: 131.880 Hourly resistance Nov 9, High Nov 15 

*RES 1: 131.850 High Nov 21

*PREVIOUS CLOSE: 131.800

*SUP 1: 131.720 21-DMA

*SUP 2: 131.580 Low Nov 14

*SUP 3: 131.506 55-DMA

*SUP 4: 131.470 High Oct 23 now support

*COMMENTARY: The rejection ahead of last week's high has seen pressure return to

the 21-DMA. 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 (131.172) 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 132.118.

SCHATZ TECHS: (Z17) Layers of Support Remain 112.180-240

*RES 4: 112.365 Monthly high Sept 5 (Cont) 

*RES 3: 112.330 Bollinger band top 

*RES 2: 112.315 High Oct 27 

*RES 1: 112.285 High Nov 15

*PREVIOUS CLOSE: 112.240

*SUP 1: 112.240 Low Oct 27 

*SUP 2: 112.230 High Oct 19 now support 

*SUP 3: 112.220 Daily Bull channel base 

*SUP 4: 112.206 55-DMA

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

bulls and has resulted in pressure returning to layers of support 112.180-240

where the daily bull channel base and 55-DMA are noted. Overall bears now need a

close below 112.180 to end bullish hopes and shift focus back to 112.065-105

where the 100-DMA (112.101) is located. Layers of resistance are accumulating

with bulls now needing a close above 112.285 to ease pressure on supports.

GILT TECHS: (Z17) 124.25-69 Support Region Key

*RES 4: 125.87 High Nov 8 

*RES 3: 125.75 Bollinger band top 

*RES 2: 125.41 Hourly support Nov 9 now resistance 

*RES 1: 125.32 High Nov 21

*PREVIOUS CLOSE: 125.07

*SUP 1: 124.84 Low Nov 21 

*SUP 2: 124.69 Daily Bull channel base 

*SUP 3: 124.45 Low Nov 17 

*SUP 4: 124.25 Low Nov 14

*COMMENTARY: The pop above the 100-DMA (125.20) lacked follow through which is

less than ideal for bulls, although the daily bull channel base guiding the

contract higher sees bulls focused on 125.87-00 and above 125.32 needed to add

support. The 124.25 support is key with bears needing a close below to confirm

breaks of the bull channel base and 21 (124.64) & 55 (124.65) DMAs initially

targeting 123.84.

SHORT-STERLING TECHS: (H18) 99.370 Support 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: 99.350 Alternating daily support/resistance

*SUP 4: 99.310 Low Nov 1

*COMMENTARY: Sideways trading in a tight 99.380-400 range continues with the

55-DMA now noted at 99.375 and the 21-DMA at 99.371. Bears now look for a close

below the 99.370 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 (99.492) 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, ending bullish hopes and shifting focus back to

100.275-285. Bulls continue to look for a close 100.330 to target 100.360-380.

US 10-YR FUTURE TECHS: (Z17) 124-16 Support Remains Key

*RES 4: 125-20+ 100-DMA 

*RES 3: 125-12+ 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: 2.434 - Hourly resistance Oct 27 

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

*RES 2: 2.386 - Hourly resistance Nov 14 

*RES 1: 2.379 - High Nov 16

*PRICE: 2.356 @ 0530GMT

*SUP 1: 2.335 - Low Nov 21 

*SUP 2: 2.319 - Low Nov 15 

*SUP 3: 2.309 - 55-DMA 

*SUP 4: 2.306 - 200-DMA

*COMMENTARY: Dips last week found support ahead of the 200-DMA with the

2.273-3.319 support region remaining key. 55, 100 & 200-DMAs are noted in this

region with bears needing a close below 2.273 to confirm breaks of key DMAs and

shift 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 with a close

above 2.379 to add support to their case.

EUROSTOXX50 TECHS: O/S Daily Studies Correcting Higher 

*RES 4: 3642.10 Low Nov 8 now resistance 

*RES 3: 3620.76 21-DMA 

*RES 2: 3601.45 High Nov 13 

*RES 1: 3591.53 High Nov 21

*PREVIOUS CLOSE: 3579.32

*SUP 1: 3567.07 Hourly resistance Nov 21 now support 

*SUP 2: 3519.35 Low Nov 15 

*SUP 3: 3511.56 200-DMA 

*SUP 4: 3497.29 High Aug 16 now support

*COMMENTARY: Correcting O/S daily studies appear to be impacting with the index

remaining supported on dips back towards the 3497.29-3536.21 region where 100 &

200-DMAs are noted. Bulls failed to manage a close above the 55-DMA Monday with

a close above 3601.45 now needed to ease bearish pressure and above 3642.10 to

return focus to 2017 highs. Bears now need a close below 3497.29 to hint at a

move to 2017 lows with below 3467.78 confirming.

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

[TOPICS: MTABLE]