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MNI European Morning FI Technical Analysis

5 July 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: (U18) Bears Need Close Below 162.22
*RES 4: 164.19 2018 High May 29
*RES 3: 163.52 Bollinger band top
*RES 2: 163.03 High May 30
*RES 1: 162.81 High July 3
*PREVIOUS CLOSE: 162.44
*SUP 1: 162.22 Low July 3
*SUP 2: 161.75 Low June 26
*SUP 3: 161.41 21-DMA
*SUP 4: 161.26 Low June 21
*COMMENTARY: Failures ahead of the 163.03 resistance remain a concern for bulls
when combined with daily momentum divergence, O/B studies looking to correct and
the Bollinger top lurking above. In saying that, bears still need a close below
162.22 to gain breathing room and below 161.26 to shift initial focus back to
159.37-160.22 where the 55-DMA (160.04) is situated. Bulls look for a close
above 163.03 to add support to the case for a test of 164.19-42.
     BOBL TECHS: (U18) Focus On 131.770-780 Today
*RES 4: 132.669 Bollinger band top 
*RES 3: 132.660 High May 30 
*RES 2: 132.330 High July 2 
*RES 1: 132.090 Low July 3
*PREVIOUS CLOSE: 132.020
*SUP 1: 131.780 21-DMA
*SUP 2: 131.770 High June 18 now support, Low June 29
*SUP 3: 131.490 Hourly resistance June 14 now support
*SUP 4: 131.190 High June 13 now support
*COMMENTARY: Topside hesitation resulted in a sharp dip Friday only to confirm
the significance of the 131.770-780 support region with an aggressive bounce.
Bulls now need a close above 132.330 to confirm focus on 132.660-970. Correcting
O/B studies look to be weighing and are the key concern for bulls. The close
below 132.090 buys bears breathing room with below 131.770 to target
130.780-131.190.
     SCHATZ TECHS: (U18) Above 112.155 To Shift Focus Higher
*RES 4: 112.155 Hourly resistance May 30 
*RES 3: 112.135 High June 21 
*RES 2: 112.075 Hourly support July 4 now resistance 
*RES 1: 112.055 Hourly support June 29 now resistance
*PREVIOUS CLOSE: 112.030
*SUP 1: 112.021 Daily bull channel base off June low 
*SUP 2: 111.975 Hourly support June 14 
*SUP 3: 111.940 High June 13 now support 
*SUP 4: 111.914 55-DMA
*COMMENTARY: Bears take comfort in the close below 112.055 although the contract
is finding support around a bull channel base. Bulls now need a close above
112.075 to gain breathing room and above 112.155 to confirm a shift in focus
back to 112.270-425 where 2018 highs are noted. The 111.940 support remains key.
Bears need a close below this level to shift focus back to 111.815-914 where 55
& 100 (111.863) DMAs are noted.
     GILT TECHS: (U18) 123.64 Resistance Remains Key
*RES 4: 123.93 Hourly resistance May 29 
*RES 3: 123.78 Bollinger band top 
*RES 2: 123.64 High May 30 
*RES 1: 123.49 High July 3
*PREVIOUS CLOSE: 123.09
*SUP 1: 122.90 Low July 3 
*SUP 2: 122.64 21-DMA 
*SUP 3: 122.55 Low June 22 
*SUP 4: 122.28 Low June 21
*COMMENTARY: Failure to trouble the 126.64 resistance saw the pair dip back
towards the 21-DMA Friday with correcting modestly O/B studies seen weighing.
Bears continue to look for a close below 122.28 to confirms breaks of the rising
daily TL (122.69) off May lows and the 21-DMA with immediate focus shifting to
121.22-82 where 55 & 100-DMAs are situated. Bulls still need a close above
123.64 to add support to the case for a test of 124.67.
     SHORT-STERLING TECHS: (U18) Above 99.230 To Confirm 21-DMA Break
*RES 4: 99.230 Lows June 18 & 19 now resistance
*RES 3: 99.211 21-DMA
*RES 2: 99.193 55-DMA
*RES 1: 99.185 Low June 27
*PREVIOUS CLOSE: 99.175
*SUP 1: 99.168 200-DMA, Bollinger band base
*SUP 2: 99.147 Daily Bear channel base
*SUP 3: 99.140 Lows May 30 - Apr 3
*SUP 4: 99.134 100-DMA
*COMMENTARY: Immediate pressure is now on the 200-DMA with bears needing a close
below to shift initial focus to 99.134-147 where the 100-DMA is noted. The
Bollinger base and studies approaching O/S are the key concern for bears. Bulls
now need a close above the 21-DMA to ease bearish pressure and above 99.230 to
shift focus back to 99.260. Bears continue to look for a close below the 100-DMA
to target 2018 lows.
     EURIBOR TECHS: (Z18) Below 100.265 To Shift Focus Lower
*RES 4: 100.310 - 2018 High Repeatedly May 
*RES 3: 100.305 - Repeated daily lows Apr/May now resistance 
*RES 2: 100.300 - Highs June 14 & 15 
*RES 1: 100.290 - Repeated daily highs June & July
*PREVIOUS CLOSE: 100.285
*SUP 1: 100.283 - 21-DMA
*SUP 2: 100.275 - Lows June 21-22 & 25
*SUP 3: 100.265 - High June 11 now support
*SUP 4: 100.245 - Lows June 7 & 8
*COMMENTARY: The 100.300-305 resistance remains key. Bulls need a close above
this region to confirm a bullish bias and initially target 100.320. Daily
studies correcting from O/B levels is less than ideal for bulls. Bears still
need a close below the 21-DMA to ease bullish pressure and below 100.265 to
confirm a break of the 200-DMA (100.268) & shift immediate focus back to 100.245
and overall focus back to 2018 lows.
     US 10-YR FUTURE TECHS: (U18) 120-16 Resistance Remains Key
*RES 4: 121-03  High May 30
*RES 3: 120-24  Hourly resistance May 30a
*RES 2: 120-16  Hourly resistance May 30
*RES 1: 120-12+ Falling Tl Off May high
*PRICE: 120-07+ @ 0430GMT
*SUP 1: 120-06  Alternating hourly support/resistance
*SUP 2: 119-30  Low July 3
*SUP 3: 119-26+ Low June 26
*SUP 4: 119-20+ Low June 22
*COMMENTARY: The 120-16 resistance remains key this week with bulls needing a
close above to confirm focus on 121-03/12. The Bollinger top (120-15+) and
modestly O/B studies remain key concerns for bulls and limit follow through.
Initial support is noted at 120-06 with bears needing a close below to ease
bullish pressure and below 119-26+ to shift initial focus back to 119-13+ where
the 55-DMA is located.
     US 10-YR YIELD TECHS: 2.884-2.950 Resistance Region Now Key
*RES 4: 2.935 - Hourly resistance June 21 
*RES 3: 2.900 - High June 26 
*RES 2: 2.884 - High July 3 
*RES 1: 2.855 - Hourly support July 2 now resistance
*PRICE: 2.846 @ 0430GMT
*SUP 1: 2.821 - Hourly support May 30 
*SUP 2: 2.790 - Hourly support May 30a 
*SUP 3: 2.759 - Low May 29 
*SUP 4: 2.717 - Monthly Low Apr 2
*COMMENTARY: Immediate pressure remains on the 2.821 support with overall
bearish focus currently on 2.717-759 where Apr & May lows are noted. The
Bollinger base (2.812) and modestly O/S studies remain key concern for bears.
Bulls continue now look for a close above 2.884 to gain breathing room and above
2.950 to confirm breaks of 21, 55 & 100-DMAs and pressure the key 3.014-050
resistance region.
     EUROSTOXX50 TECHS: 3424.60-3469.94 Resistance Remains Key
*RES 4: 3505.02 Low June 15 now resistance
*RES 3: 3488.97 55-DMA
*RES 2: 3469.94 Hourly resistance June 18
*RES 1: 3424.60 High June 27
*PREVIOUS CLOSE: 3412.03
*SUP 1: 3389.44 Alternating daily support/resistance 
*SUP 2: 3340.50 Low June 27 
*SUP 3: 3321.80 200-WMA 
*SUP 4: 3300.50 Low Apr 4
*COMMENTARY: Bulls still need a close above 3424.60 to ease bearish pressure and
above 3469.94 to shift immediate focus back to 3490.41-3540.03 where 55 &
200-DMAs are noted. While 3469.94 caps bears retain the upper hand and focus on
3261.86-3320.97 where the 200-WMA is situated. The Bollinger base (3341.84) and
O/S studies remain concerns for bears and limit follow through.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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