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MNI European Morning FI Technical Analysis 

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]
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