-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI European Morning FI Technical Analysis
15 December 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: (H18) Pressure Remains On Week's Highs
*RES 4: 164.01 Daily Bull channel top (off Sept low)
*RES 3: 163.89 Low June 1 now resistance (Cont)
*RES 2: 163.78 High Dec 11
*RES 1: 163.64 High Dec 12
*PREVIOUS CLOSE: 163.52
*SUP 1: 163.25 Hourly Breakout level Dec 14
*SUP 2: 162.90 Low Dec 14
*SUP 3: 162.79 Hourly support Dec 5
*SUP 4: 162.61 Daily Bull channel base (off Oct 25 low)
*COMMENTARY: Follow through remains lacking on dips with H18 finding support
around the 21-DMA (162.96) and retaining bullish focus on 163.64-164.01 where a
bull channel top is noted. The Bollinger top (163.86) remains the key concern
for bulls. Bears now need a close below 163.25 to pressure 162.61-90 where the
bull channel base off Oct 25 lows and the 21-DMA are located. Below the channel
base initially targets 161.47-162.10 where 55 & 100-DMAs are situated.
BOBL TECHS: (H18) Above 132.74 To Reconfirm Bullish Bias
*RES 4: 132.850 Low May 30 now resistance
*RES 3: 132.740 High Dec 7
*RES 2: 132.707 Bollinger band top
*RES 1: 132.620 High Dec 11
*PREVIOUS CLOSE: 132.480
*SUP 1: 132.250 Low Dec 4
*SUP 2: 132.228 55-DMA
*SUP 3: 132.100 Daily Bull channel base (Off Oct 25 low)
*SUP 4: 131.970 Monthly low Nov 30
*COMMENTARY: Dips below the 21-DMA (132.411) continue to find support ahead of
the 55-DMA with pressure again returning to the 132.62-74 region. Bulls continue
to look for a close above 132.74 to reconfirm a bullish bias initially targeting
the bull channel top (133.022). Bears look for a close below the 55-DMA to
pressure layers of support 131.860-132.100 where the bull channel base and
100-DMA (131.899) are noted.
SCHATZ TECHS: (H18) 112.190-240 Resistance Region Key
*RES 4: 112.325 High Apr 18
*RES 3: 112.270 Monthly high Sept 7
*RES 2: 112.240 High Dec 7
*RES 1: 112.190 High Dec 11
*PREVIOUS CLOSE: 112.155
*SUP 1: 112.108 55-DMA
*SUP 2: 112.095 100-WMA
*SUP 3: 112.036 Bollinger band base
*SUP 4: 112.025 Monthly Lows Oct 26 & Nov 30
*COMMENTARY: Downside follow through remains lacking with H18 bouncing from the
55-DMA to retain pressure on 112.190-240. Bulls still need a close above 112.190
to ease bearish pressure and above 112.240 to reconfirm focus on 112.270-325.
Modestly O/B daily studies are less than ideal for bulls. In saying that, bears
continue to look for a close below the 55-DMA to end bullish hopes and confirm
immediate pressure back on the double daily bottom at 112.025.
GILT TECHS: (H18) Immediate Focus On Bull Channel Top
*RES 4: 126.67 High Sept 14
*RES 3: 126.00 Low Sept 13 now resistance
*RES 2: 125.63 Daily Bull channel top
*RES 1: 125.40 High Dec 14
*PREVIOUS CLOSE: 125.29
*SUP 1: 125.02 Hourly support Dec 14
*SUP 2: 124.50 Hourly resistance Dec 11 now support
*SUP 3: 124.22 Alternating hourly support/resistance
*SUP 4: 123.79 55-DMA
*COMMENTARY: Fresh 3mth highs continue with immediate bullish focus on the bull
channel top and then 126.00-67. The Bollinger top (125.22) and O/B daily studies
are now seen as concerns for bulls with potential to limit follow through. In
saying that, bears now need a close below 125.02 to ease immediate bullish
pressure and below 124.22 to return focus to 123.62-75 where the 55-DMA and last
week's low are found.
SHORT-STERLING TECHS: (H18) Above 99.450 Targets 200-DMA
*RES 4: 99.520 High Sept 14
*RES 3: 99.484 200-DMA
*RES 2: 99.476 55-WMA
*RES 1: 99.450 Low Sept 13 now resistance
*PREVIOUS CLOSE: 99.440
*SUP 1: 99.430 Highs Dec 12 & 13
*SUP 2: 99.410 Repeated Daily highs now support
*SUP 3: 99.390 Lows Dec 5 & 8
*SUP 4: 99.370 Low Nov 3, 28 & 29
*COMMENTARY: Pressure has shifted to the 99.450 resistance with bulls taking
comfort in the close above the 100-DMA. Bulls continue to look for a close above
99.450 to shift focus to 99.476-520 where the 55-WMA and 200-DMA are noted.
Support layers are building with bears now needing a close below 99.410 to ease
bullish pressure and below 99.371 to hint at a move back to 99.300-310 with
below 99.350 confirming.
EURIBOR TECHS: (M18) Bullish Confidence Grows
*RES 4: 100.380 - Low Sept 27 2016 now resistance
*RES 3: 100.340 - High Oct 10 2016
*RES 2: 100.330 - Daily Bull channel top
*RES 1: 100.325 - High Oct 19 2016, High Dec 14
*PREVIOUS CLOSE: 100.325
*SUP 1: 100.320 - Repeated daily highs now support
*SUP 2: 100.310 - Low Dec 12
*SUP 3: 100.307 - 55-DMA
*SUP 4: 100.305 - Lows Dec 4 & 5
*COMMENTARY: Bullish confidence received a boost with the contract now
pressuring levels last seen in Oct 2016 and the daily bull channel top. O/B
daily studies and the Bollinger top (100.323) are key concerns for bulls with
potential to limit follow through. Bears now look for a close below 100.320 to
ease bullish pressure and hint at a correction back to 100.305-310 with the
55-DMA noted at 100.308.
US 10-YR FUTURE TECHS: (H18) Bulls Need Close Above Channel Top
*RES 4: 125-06+ Monthly high Nov 8
*RES 3: 125-00 High Nov 28
*RES 2: 124-23+ Daily Bear channel top
*RES 1: 124-20+ 55-DMA
*PRICE: 124-15 @ 0530GMT
*SUP 1: 124-08 Low Dec 14
*SUP 2: 124-05 Hourly support Dec 13
*SUP 3: 123-29+ Low Dec 13
*SUP 4: 123-27 Lows Oct 25 & 27
*COMMENTARY: Pressure remains on the 124-20+/23+ resistance region where the
55-DMA and bear channel top are situated. Bulls look for a close above the
channel top to shift immediate focus to 125-00/07+ where the 100-DMA is located.
Support layers are building and adding to bullish confidence. Bears now need a
close below 124-08 to ease pressure on the 55-DMA and below 124-05 to reconfirm
focus on the key 123-27/29+ support region.
US 10-YR YIELD TECHS: Looking A Little Heavy
*RES 4: 2.477 - Monthly High Oct 27
*RES 3: 2.437 - High Nov 30
*RES 2: 2.426 - High Dec 13
*RES 1: 2.398 - Hourly resistance Dec 13
*PRICE: 2.360 @ 2030GMT
*SUP 1: 2.348 - Daily Bull channel base
*SUP 2: 2.303 - 200-DMA
*SUP 3: 2.289 - 100-DMA
*SUP 4: 2.273 - Monthly Low Oct 13
*COMMENTARY: The 2.437 resistance remains key with topside failures resulting in
sell-offs and bears focused on the 2.273-303 region where key DMAs and Oct low
are located. Layers of resistance building are now weighing with bulls needing a
close above 2.398 to ease bearish pressure and return initial focus to
2.426-437. Overall above 2.437 targets 2017 highs and below 2.273 hints at a
move back to 2017 lows at 2.016 with below 2.207 to confirm.
EUROSTOXX50 TECHS: Topside Hesitation Taking Its Toll
*RES 4: 3642.10 Low Nov 8 now resistance
*RES 3: 3620.01 High Nov 10
*RES 2: 3601.30 55-DMA
*RES 1: 3581.05 Hourly resistance Dec 14
*PREVIOUS CLOSE: 3556.22
*SUP 1: 3531.17 Weekly Bull channel base (Off July 2016 low)
*SUP 2: 3530.59 200-DMA
*SUP 3: 3519.35 Low Dec 7
*SUP 4: 3497.29 High Aug 16 now support
*COMMENTARY: The lack of topside follow through above the 55-DMA has taken its
toll with the index remaining heavy and focus having returned to the lower end
of the defining 3519.35-3620.01 range. Bears need a close below 3519.35 to
confirm breaks of key supports and below 3497.29 to target the bear channel base
(3439.76). Bulls now need a close above the 55-DMA to hint at a move back to Nov
highs with above 3642.10 to confirm.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.