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MNI European Morning FI Technical Analysis 

25 April 2018
By Kyle Shortland
Please click on this link to access MNI's daily European FI Technical Analysis
Pdf - http://tinyurl.com/nhjogts
BUND TECHS: (M18) Bulls Need Close Above 158.40
*RES 4: 158.95 Low Apr 17 now resistance
*RES 3: 158.74 Low Apr 16 now resistance
*RES 2: 158.40 High Apr 20
*RES 1: 158.04 Low Apr 19 now resistance
*PREVIOUS CLOSE: 157.91
*SUP 1: 157.55 55-DMA
*SUP 2: 157.34 Low Mar 14
*SUP 3: 156.22 Monthly Low Mar 8
*SUP 4: 156.02 Weekly Bear channel base
*COMMENTARY: Bulls take comfort in the bounce from below the 55-DMA Tuesday with
bears continuing to look for a close below 157.34 to confirm traction below the
55-DMA and initially target 156.02-22 where the weekly bear channel base is
found. The Bolli base (157.93) remains the key concern for bears. Bulls still
need a close above 158.40 to ease bearish pressure and above the 21-DMA (159.00)
to return focus to 159.55-69 where Mar highs are noted.
     BOBL TECHS: (M18) Supported Ahead Of 55-DMA
*RES 4: 131.039 21-DMA 
*RES 3: 130.980 Hourly support Apr 19 now resistance 
*RES 2: 130.900 Low Apr 10 now resistance 
*RES 1: 130.760 High Apr 24
*PREVIOUS CLOSE: 130.720
*SUP 1: 130.623 Daily Bull channel base off Feb Low
*SUP 2: 130.502 55-DMA
*SUP 3: 130.380 Low Mar 13
*SUP 4: 130.210 Low Mar 9
*COMMENTARY: Bulls take comfort in support emerging ahead of the 55-DMA but now
look for a close above 130.760 to confirm an easing of bearish pressure. Bulls
then need a close above 130.900 to hint at a move back to 131.151-310 where the
100-WMA (131.151) & Mar highs are noted. Bears now look for a close below the
55-DMA to shift initial focus to 130.210 and overall focus to 129.840. The Bolli
base (130.691) is the key concern for bears.
     SCHATZ TECHS: (M18) 111.805 & 111.890 Levels Key
*RES 4: 111.945 Highs Apr 5 & 6 
*RES 3: 111.930 Highs Apr 10 & 13 
*RES 2: 111.914 21-DMA 
*RES 1: 111.890 High Apr 19
*PREVIOUS CLOSE: 111.865
*SUP 1: 111.835 Bollinger band base 
*SUP 2: 111.830 Low Mar 14 
*SUP 3: 111.827 55-DMA 
*SUP 4: 111.715 Low Feb 27
*COMMENTARY: Hesitation ahead of the 21-DMA took its toll with a sell-off that
is finding support ahead of the 55-DMA. Bears continue to look for a close below
111.805 to confirm traction below DMAs and initially target 111.715. The
Bollinger base is key concern for bears. Bulls need a close above 111.890 to
ease bearish pressure and above 111.945 to confirm traction above the 21-DMA and
shift initial focus back to 111.990-992 where the Bollinger top is noted.
     GILT TECHS: (M18) 120.29 Support Key This Week
*RES 4: 122.84 Highs Apr 11 & 18 
*RES 3: 122.19 Alternating hourly support/resistance 
*RES 2: 122.18 100-DMA 
*RES 1: 121.47 High Apr 23
*PREVIOUS CLOSE: 121.05
*SUP 1: 120.69 Low Mar 21 
*SUP 2: 120.48 Low Feb 27 
*SUP 3: 120.29 Low Feb 22 
*SUP 4: 119.83 Low Feb 20
*COMMENTARY: Losses continue with bearish focus currently on the 120.29-69
support region. Daily studies approaching O/S and the Bollinger band base
(121.09) remain key concerns for bears with potential to limit follow through.
Bears look for a close below 120.69 to hint at a move back to 119.29-83 with
below 120.29 to confirm. Bulls need a close above 121.47 to gain breathing room
and above 122.19 now to shift focus back to 122.84-123.03.
     SHORT-STERLING TECHS: (M18) Looking Offered
*RES 4: 99.233 100-DMA
*RES 3: 99.220 Repeated daily highs Feb
*RES 2: 99.210 High Apr 20
*RES 1: 99.185 Low Apr 23 now resistance
*PREVIOUS CLOSE: 99.170
*SUP 1: 99.160 Low Apr 24
*SUP 2: 99.145 High Apr 18 now support
*SUP 3: 99.118 21-DMA
*SUP 4: 99.095 Low Apr 13
*COMMENTARY: With the move previously identified as being a little overdone the
contract is now offered having dipped below the 55-DMA (99.167) as daily studies
correct from O/B. Bears need a close below 99.145 to increase confidence and
below the 21-DMA to return focus to 99.075-095 where 2018 lows are situated.
Bulls now look for a close above 99.185 to gain breathing room and above the
100-DMA to shift focus to the key 99.270 resistance.
     EURIBOR TECHS: (Z18) 100.305 Resistance Remains Key
*RES 4: 100.340 - High Oct 10 2016 
*RES 3: 100.325 - High Oct 19 2016, High Dec 15 
*RES 2: 100.320 - Repeated Daily highs Dec 
*RES 1: 100.305 - 2018 High Mar 27 & 28, Apr 6 & 9
*PREVIOUS CLOSE: 100.300
*SUP 1: 100.290 - Highs Mar 13 & 14 now support
*SUP 2: 100.285 - Low Mar 15
*SUP 3: 100.282 - 55-DMA
*SUP 4: 100.275 - High Mar 7 now support
*COMMENTARY: Continued hesitation around 2018 highs resulted in dips below the
21-DMA (100.300). Bears now look for a close below 100.290 to shift initial
focus back to 100.270-282 where 55 & 100-DMAs and the bull channel base off 2018
lows are noted. Bulls still need a close above 100.305 to target 100.320-340
with the daily bull channel top now noted at 100.322.
     US 10-YR FUTURE TECHS: (M18) O/S Daily Studies A Concern
*RES 4: 120-06+ High Apr 19
*RES 3: 120-02+ Low Apr 18 now resistance
*RES 2: 119-29+ High Apr 20
*RES 1: 119-14+ Hourly resistance Apr 23
*PRICE: 119-05 @ 0430GMT
*SUP 1: 119-04  2018 Low Apr 24
*SUP 2: 118-24  Low Apr 13 2011
*SUP 3: 117-29+ Monthly Low Apr 8 2011
*SUP 4: 117-25  Weekly Bear channel base
*COMMENTARY: Having traded at fresh 2018 & 7yr lows Tuesday sees bears now
targeting 117-22+/118-24 where the weekly bear channel base and 2011 low are
located. The Bollinger base 119-06+ and O/S studies remain key concerns for
bears with potential to limit follow through. Bulls now need a close above
119-14+ to gain breathing room and above Y120-06+ to initially target a
correction back to 120-21+/24.
     US 10-YR YIELD TECHS: Focus Remains On 3.041-073
*RES 4: 3.168 - Weekly Bull channel top 
*RES 3: 3.073 - Low July 6 2011 now resistance 
*RES 2: 3.041 - 2014 High Jan 2 
*RES 1: 3.009 - 2018 High Apr 25
*PRICE: 3.001 @ 0430GMT
*SUP 1: 2.957 - Low Apr 24 
*SUP 2: 2.925 - Hourly support Apr 20 
*SUP 3: 2.904 - Low Apr 20 
*SUP 4: 2.876 - High Apr 18 now support
*COMMENTARY: Bulls reconfirmed focus on 3.041-073 with fresh 2018 & 4+yr highs.
The Bollinger top (2.993) & O/B studies remain concerns for bulls. The 2.925-957
support region is now key. Bears now need a close below 2.957 to gain breathing
room and below 2.925 to shift initial focus back to 2.814-876 where 21 (2.837) &
55 (2.853) DMAs are situated. Bulls look for a close above 3.073 to shift focus
3.168-223 where the weekly bull channel top is noted.
     EUROSTOXX50 TECHS: Topside Follow Through Lacking
*RES 4: 3600.36 Low Jan 21 now resistance 
*RES 3: 3570.95 Alternating daily support/resistance 
*RES 2: 3555.52 Bollinger band top 
*RES 1: 3523.81 High Apr 24
*PREVIOUS CLOSE: 3510.88
*SUP 1: 3476.59 Low Apr 18 
*SUP 2: 3455.22 Hourly support Apr 17 
*SUP 3: 3435.58 Low Apr 16 
*SUP 4: 3411.63 Low Apr 11
*COMMENTARY: The index is struggling to gain traction above the 200-DMA
(3511.63) & 55-WMA (3516.74) with a marginal break of 3523.28 lacking follow
through. In saying that, bears continue to look for a close below 3476.59 to
gain breathing room and below 3383.17 to focus on 2018 lows. Bulls now need a
close above 3523.81 to end bearish hopes, shifting initial focus to
3570.95-3600.36 and overall focus to 2018 highs.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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