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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

28 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) Above 163.63 Targets Bull Channel Top
*RES 4: 163.63 High Nov 8
*RES 3: 163.45 Bollinger band top
*RES 2: 163.40 High Nov 9
*RES 1: 163.30 High Nov 22
*PREVIOUS CLOSE: 163.16
*SUP 1: 162.83 Daily Bull channel base
*SUP 2: 162.61 Low Nov 23
*SUP 3: 162.36 Hourly support Nov 14
*SUP 4: 162.00 55-DMA
*COMMENTARY: The daily bull channel base off Oct 25 lows currently supports with
bears needing a close below 162.61 to ease bullish pressure and below 162.36 to
shift focus to 161.63-00 where the longer-term bull channel base and 55-DMA are
noted. Bulls remain focused on the 163.40-63 region. Above 163.63 targets the
bull channel top (164.84). Narrowing Bolli bands remain suggestive of a breakout
this week.
BOBL TECHS: (Z17) Bulls Need Close Above 21-DMA
*RES 4: 131.920 Hourly support Nov 7 now resistance 
*RES 3: 131.880 Hourly resistance Nov 9, High Nov 15 
*RES 2: 131.850 High Nov 21 
*RES 1: 131.770 21-DMA
*PREVIOUS CLOSE: 131.760
*SUP 1: 131.700 Hourly support Nov 27
*SUP 2: 131.520 Low Nov 22
*SUP 3: 131.497 55-DMA
*SUP 4: 131.470 High Oct 23 now support
*COMMENTARY: Dips back towards the 55-DMA have lacked follow through resulting
in pressure returning to the 21-DMA. Bulls need a close above the 21-DMA to
return focus to 131.850-880 and above 131.880 to reconfirm immediate focus on
retests of 132.060. Bears still need a close below 131.470 to confirm a break of
the 55-DMA and shift initial focus to 131.090-290 where the 100-DMA (131.241) is
noted.
SCHATZ TECHS: (Z17) Above 112.240 To Ease Bearish Pressure
*RES 4: 112.285 High Nov 15 
*RES 3: 112.260 21-DMA 
*RES 2: 112.240 Low Oct 27 now resistance 
*RES 1: 112.230 High Nov 27
*PREVIOUS CLOSE: 112.220
*SUP 1: 112.185 Low Nov 28 
*SUP 2: 112.150 Low Oct 25 
*SUP 3: 112.117 100-DMA 
*SUP 4: 112.105 Low Oct 6
*COMMENTARY: Time spent below the 55-DMA (112.204) was brief. Bulls still need a
close above 112.240 to ease bearish pressure and above 112.285 to return focus
to 112.315. Initial support is now noted at 112.185 with bears needing a close
below to retain immediate focus on 112.150 and overall focus on 112.065-119
where the 100-DMA and monthly lows are situated. Daily studies correcting from
O/S is a concern for bears but 112.240 is key.
GILT TECHS: (Z17) Bulls Initially Targeting 125.87-00
*RES 4: 126.00 Low Sept 13 now resistance 
*RES 3: 125.87 High Nov 8 
*RES 2: 125.70 Bollinger band top 
*RES 1: 125.47 High Nov 27
*PREVIOUS CLOSE: 125.21
*SUP 1: 125.09 Low Nov 24 
*SUP 2: 124.99 Daily Bull channel base 
*SUP 3: 124.75 Low Nov 22 
*SUP 4: 124.45 Low Nov 17
*COMMENTARY: The 124.99-125.09 support region is key today following the lack of
topside follow through Monday. Bears need a close below the daily bull channel
base to pressure support layers in the 124.25-75 region. Below 124.75 confirms
an easing of bullish pressure and below 124.25 to confirm a break of the 55
(124.47) DMA targeting 123.12-17 with below 123.84 to add weight to the case.
Bulls currently focus on 125.87-00.
SHORT-STERLING TECHS: (H18) 99.410 Resistance Remains Key
*RES 4: 99.450 Low Sept 13 now resistance
*RES 3: 99.446 100-DMA
*RES 2: 99.424 High Sept 15
*RES 1: 99.410 High Sept 15 & Nov 22-24
*PREVIOUS CLOSE: 99.400
*SUP 1: 99.380 Repeated daily lows Nov
*SUP 2: 99.362 55-DMA
*SUP 3: 99.350 Alternating daily support/resistance
*SUP 4: 99.310 Low Nov 1
*COMMENTARY: Bulls take comfort in the contract trading above 21 & 55 DMAs and
tests of 99.410. Bulls look for a close above 99.410 to add support to their
case for a test of 100 (99.446) & 200 (99.491) DMAs. Bears now look for a close
below 99.380 to confirm a break of the 21-DMA (99.383) easing bullish pressure,
and below 99.350 to shift focus back to 99.300-310 where 2017 lows are noted.
EURIBOR TECHS: (M18) Bears Need Close Below 55-DMA
*RES 4: 100.331 - Daily Bull channel top 
*RES 3: 100.320 - Monthly High Oct 
*RES 2: 100.315 - Repeated daily highs Nov 
*RES 1: 100.314 - 21-DMA
*PREVIOUS CLOSE: 100.310
*SUP 1: 100.305 - Low Nov 24 & 27
*SUP 2: 100.302 - 55-DMA
*SUP 3: 100.295 - Low Oct 26
*SUP 4: 100.287 - 100-DMA
*COMMENTARY: The contract is finding support around the bull channel base off
Sept lows and ahead of the 55-DMA. Bears need a close below the 55-DMA to
confirm a break of the channel base, shifting immediate focus to 100.295 and
overall focus to 100.285-287 where the 100-DMA is situated. Bulls now need a
close above 100.315 to gain breathing room and above 100.320 to confirm focus on
the bull channel top.
US 10-YR FUTURE TECHS: (Z17) Bulls Need Close above 55-DMA
*RES 4: 125-20+ 100-DMA 
*RES 3: 125-08+ 55-DMA 
*RES 2: 125-07 High Nov 15 
*RES 1: 125-06 Daily Bear channel top
*PRICE: 125-03 @ 0530GMT
*SUP 1: 124-27 Low Nov 27
*SUP 2: 124-19 Lows Nov 21 & 22
*SUP 3: 124-16 Low Nov 14, Bollinger band base
*SUP 4: 124-06 Low Oct 25
*COMMENTARY: The 124-160 support confirmed significance last week with bears
needing a close below to initially pressure 124-03/06 where the LT weekly TL is
noted. 125-06/125-25+ where the bear channel top, 55 & 100-DMAs are located
remains key resistance. Overall bulls need a close above the 55-DMA to gain
breathing room and above 125-25+ to confirm a break of the 100-DMA, ending
bearish hopes and shifting immediate focus to 126-04+/09.
US 10-YR YIELD TECHS: 21-DMA Capping
*RES 4: 2.386 - Hourly resistance Nov 14 
*RES 3: 2.379 - High Nov 16 
*RES 2: 2.367 - Daily Bear channel top 
*RES 1: 2.351 - 21-DMA
*PRICE: 2.331 @ 0530GMT
*SUP 1: 2.322 - 55-DMA 
*SUP 2: 2.319 - Low Nov 15 
*SUP 3: 2.305 - 200-DMA 
*SUP 4: 2.282 - 100-DMA
*COMMENTARY: Bears take comfort in the 21-DMA capping to start the new week and
pressure remaining on the key 2.273-3.322 support region where 55, 100 &
200-DMAs are noted. Bears need a close below 2.273 to confirm breaks of these
level and shift immediate focus to 2.207. Bulls continue to look for a close
above 2.386 to ease bearish pressure and above 2.419 to return initial focus to
2.477.
EUROSTOXX50 TECHS: Lacking Follow Through Above 55-DMA 
*RES 4: 3642.10 Low Nov 8 now resistance 
*RES 3: 3610.68 21-DMA 
*RES 2: 3601.45 High Nov 13 
*RES 1: 3590.43 55-DMA
*PREVIOUS CLOSE: 3564.02
*SUP 1: 3545.07 Low Nov 23 
*SUP 2: 3536.21 Low Nov 20 
*SUP 3: 3519.35 Low Nov 15 
*SUP 4: 3516.72 200-DMA
*COMMENTARY: Pops above the 55-DMA continue to lack follow through with the
relatively bearish close adding weight to the case for a test of the
3497.29-3536.21 region where 100 (3533.51) and 200 (3516.72) DMAs are situated.
Below 3497.29 then shifts focus to 3363.68 Aug lows. The 3601.45-3642.1
resistance region is key. Bulls need a close above this region to confirm breaks
of 21 & 55-DMAs with overall focus returning to tests of 2017 highs.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]