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MNI European Morning FI Technical Analysis 

27 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) Above 21-DMA Initially Targets 159.55-69
*RES 4: 159.55 High Apr 18
*RES 3: 158.92 21-DMA
*RES 2: 158.74 Low Apr 16 now resistance
*RES 1: 158.55 Low Mar 23 now resistance
*PREVIOUS CLOSE: 158.34
*SUP 1: 157.90 Hourly resistance Apr 26 now support
*SUP 2: 157.43 Low Mar 24
*SUP 3: 157.34 Low Mar 14
*SUP 4: 156.22 Monthly Low Mar 8
*COMMENTARY: Support emerging below the 55-DMA (157.63) combined with O/S daily
studies impacted to ease bearish pressure with a close above the 100-DMA
(158.08) and sees focus on the 21-DMA. Bulls need a close above the 21-DMA to
return focus to 159.55-69 where Mar & Apr highs are noted. Bears look for a
below 157.90 to signal a false break and below 157.34 to confirm traction below
the 55-DMA initially targeting 156.02-22.
     BOBL TECHS: (M18) Initial Focus Shifts To 130.900-131.014
*RES 4: 131.136 100-WMA 
*RES 3: 131.014 21-DMA 
*RES 2: 130.980 Hourly support Apr 19 now resistance 
*RES 1: 130.900 Low Apr 10 now resistance
*PREVIOUS CLOSE: 130.820
*SUP 1: 130.713 100-DMA
*SUP 2: 130.550 Low Apr 25
*SUP 3: 130.535 55-DMA
*SUP 4: 130.380 Low Mar 13
*COMMENTARY: Bulls take comfort in support emerging ahead of the 55-DMA with
immediate focus now on 130.90-131.014. Bulls now look for a close above the
21-DMA to shift focus to 131.136-310 where the 100-WMA, Mar & Apr highs are
located. Bears now need a close below the 100-DMA to gain breathing room and
below 130.510 to shift initial focus to 130.210 and overall focus to 129.840.
     SCHATZ TECHS: (M18) 111.805-830 Support Region Key
*RES 4: 111.945 Highs Apr 5 & 6 
*RES 3: 111.930 Highs Apr 10 & 13 
*RES 2: 111.905 21-DMA 
*RES 1: 111.890 High Apr 19
*PREVIOUS CLOSE: 111.875
*SUP 1: 111.830 Low Mar 14 
*SUP 2: 111.805 Low Mar 9 
*SUP 3: 111.715 Low Feb 27 
*SUP 4: 111.706 200-WMA
*COMMENTARY: The lack of follow through on dips below the 100-DMA (111.835)
resulted in pressure returning to 111.890. 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 111.982-990 where the Bollinger top is noted. Bears
continue to look for a close below 111.805 to confirm traction below DMAs and
initially target 111.715. The Bollinger base (111.828) is key concern for bears.
     GILT TECHS: (M18) 121.49 Resistance Key Today
*RES 4: 122.84 Highs Apr 11 & 18 
*RES 3: 122.19 Alternating hourly support/resistance 
*RES 2: 122.15 100-DMA 
*RES 1: 121.49 High Apr 26
*PREVIOUS CLOSE: 121.37
*SUP 1: 121.07 Low Mar 26 
*SUP 2: 120.69 Low Mar 21 
*SUP 3: 120.48 Low Feb 27 
*SUP 4: 120.29 Low Feb 22
*COMMENTARY: Bulls take comfort in support emerging ahead of 120.69. Daily
studies at O/S levels appear to be impacting. Bulls now need a close above
121.49 to confirm a break of the 55-DMA (131.39) to confirm an easing of bearish
pressure and above 122.19 now to shift focus back to 122.84-123.03. Bears look
for a close below 120.69 to hint at a move back to 119.29-83 with below 120.29
to confirm.
     SHORT-STERLING TECHS: (M18) 99.145 Support Remains Key
*RES 4: 99.231 100-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: 99.123 21-DMA
*SUP 4: 99.095 Low Apr 13
*COMMENTARY: Immediate pressure has returned to 99.145-160. Bears need a close
below 99.145 to confirm traction below the 55-DMA (99.163), shifting initial
focus to 99.123 and hinting at a move back to 99.075-095 with below the 21-DMA
to confirm. Bulls 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) Bears Now Need Close Below 100.295
*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: 100.295
*SUP 1: 100.295 - Repeated daily lows Apr
*SUP 2: 100.285 - Daily Bull channel base off 2018 Low
*SUP 3: 100.283 - 55-DMA
*SUP 4: 100.275 - High Mar 7 now support
*COMMENTARY: Continued hesitation around 2018 highs sees pressure on the 100.295
support. Bears now look for a close below this level to shift initial focus back
to 100.270-285 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) Bulls Need Close Above 119-14+
*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: 119-12 @ 0430GMT
*SUP 1: 118-31  2018 Low Apr 25
*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: O/S daily studies look to be impacting with the contract working
its way back towards the 119-14+ resistance level. Bulls continue to look for a
close above 119-14+ to gain breathing room and above Y120-06+ to initially
target a correction back to 120-21+/24. While 119-14+ caps repeated fresh 2018 &
4+yr lows see bears focused on 117-22+/118-24 where the weekly bear channel base
and 2011 low are located.
     US 10-YR YIELD TECHS: Hesitating Ahead Of 2014 High
*RES 4: 3.073 - Low July 6 2011 now resistance 
*RES 3: 3.041 - 2014 High Jan 2 
*RES 2: 3.035 - 2018 High Apr 25 
*RES 1: 3.018 - Hourly support Apr 26 now resistance
*PRICE: 2.975 @ 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: Hesitation ahead of 2014 highs & 3.041-073 is a concern given daily
studies correcting from O/B and the proximity of the Bollinger top (3.034). The
close below 3.007 buys bears breathing room and initially targets a correction
to 2.925-957. Below 2.925 is needed to shift initial focus back to 2.814-876
where 21 (2.858) & 55 (2.860) 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: 3523.81 Resistance Key Today
*RES 4: 3600.36 Low Jan 21 now resistance 
*RES 3: 3570.95 Alternating daily support/resistance 
*RES 2: 3556.39 Bollinger band top 
*RES 1: 3523.81 High Apr 24
*PREVIOUS CLOSE: 3506.03
*SUP 1: 3464.35 Low Apr 25 
*SUP 2: 3435.58 Low Apr 16 
*SUP 3: 3411.63 Low Apr 11 
*SUP 4: 3409.40 55-DMA
*COMMENTARY: Bears have so far failed to capitalize on the lack of follow
through above the 200-DMA (3511.37) & 55-WMA (3516.66). Bulls look for a close
above 3523.81 to end bearish hopes, shift initial focus to 3570.95-3600.36 and
overall focus to 2018 highs. Bears retain an advantage but now need a close
below 3464.35 to initially pressure 3383.17-3435.58 with a close below 3383.17
to confirm focus on 2018 lows.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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