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Free AccessMNI European Morning FI Technical Analysis
10 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) 161.26 Support Key This Week
*RES 4: 163.72 Bollinger band top
*RES 3: 163.03 High May 30
*RES 2: 162.93 High July 6
*RES 1: 162.73 High July 9
*PREVIOUS CLOSE: 162.55
*SUP 1: 162.35 Low July 9
*SUP 2: 162.06 Low July 5
*SUP 3: 161.79 21-DMA
*SUP 4: 161.75 Low June 26
*COMMENTARY: Topside hesitation ahead of 163.03 continues which is less than
ideal for bulls with daily studies correcting from O/B seen weighing. Bulls
still need a close above 163.03 to add support to the bullish case for a test of
164.19-42. The 161.26 support remains key this week. Bears now look for a close
below 161.75 gain breathing room and below 161.26 to shift initial focus back to
159.37-160.28 where the 55-DMA (160.28) is situated.
BOBL TECHS: (U18) 131.770 Support Key This Week
*RES 4: 132.694 Bollinger band top
*RES 3: 132.660 High May 30
*RES 2: 132.330 High July 2
*RES 1: 132.270 High July 4
*PREVIOUS CLOSE: 132.100
*SUP 1: 132.070 Low July 6
*SUP 2: 131.915 21-DMA
*SUP 3: 131.770 High June 18 now support, Low June 29
*SUP 4: 131.490 Hourly resistance June 14 now support
*COMMENTARY: Topside hesitation last week resulted in a dip Thursday
reconfirming the significance of the 131.770-915 support region. Bulls still
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. Bears continue to
look for a close below 131.770 to initially target 131.190-252 where the 55-DMA
(131.252) is noted.
SCHATZ TECHS: (U18) 55-DMA Key Support This Week
*RES 4: 112.166 Bollinger band top
*RES 3: 112.155 Hourly resistance May 30
*RES 2: 112.135 High June 21
*RES 1: 112.085 Lows July 2 & 3 now resistance
*PREVIOUS CLOSE: 112.045
*SUP 1: 112.035 Low July 6
*SUP 2: 112.000 Low July 5
*SUP 3: 111.975 Hourly support June 14
*SUP 4: 111.940 High June 13 now support
*COMMENTARY: Bears failed to capitalise on dips with support emerging ahead of
111.975. The 55-DMA (111.933) is key support this week. Bears need a close below
111.975 to confirm an easing of bullish pressure and below the 55-DMA to shift
initial focus to 111.815-873 where the 100-DMA is located. Bulls now look for a
close above 112.085 to gain breathing room and above 112.155 to confirm a shift
in focus back to 112.270-425 where 2018 highs are noted.
GILT TECHS: (U18) 122.28 & 123.64 Levels Key This Week
*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: 123.15
*SUP 1: 123.13 Alternating hourly support/resistance
*SUP 2: 122.85 21-DMA
*SUP 3: 122.76 Low July 9
*SUP 4: 122.55 Low June 22
*COMMENTARY: The contract remains capped by the 123.49-64 resistance region with
dips finding support around the 21-DMA. Bears continue to look for a close below
122.28 to confirms breaks of the rising daily TL off May lows (122.93) and the
21-DMA with immediate focus shifting to 121.33-95 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) Bears Need Close Below 100-DMA
*RES 4: 99.260 Lows May 25 & 30 now resistance
*RES 3: 99.257 Bollinger band top
*RES 2: 99.230 Lows June 18 & 19 now resistance
*RES 1: 99.204 21-DMA
*PREVIOUS CLOSE: 99.180
*SUP 1: 99.168 200-DMA
*SUP 2: 99.150 Low July 5
*SUP 3: 99.140 Lows May 30 - Apr 3
*SUP 4: 99.135 100-DMA
*COMMENTARY: Time spent below the 200-DMA has been brief with bulls taking
comfort in Monday's bounce despite it remaining capped around the 21-DMA. Bulls
still need a close above the 21-DMA to ease bearish pressure and above 99.230 to
shift focus back to 99.260. The 100-DMA remains key support. Bears look for a
close below the 100-DMA to shift initial focus back to 99.060 and overall focus
back to 98.990-000 where 2018 lows are noted.
EURIBOR TECHS: (Z18) 100.300-305 Resistance Remains Key
*RES 4: 100.310 - 2018 High Repeatedly May
*RES 3: 100.305 - Repeated daily lows Apr/May now resistance
*RES 2: 100.303 - Bollinger band top
*RES 1: 100.300 - Highs June 14 & 15
*PREVIOUS CLOSE: 100.295
*SUP 1: 100.286 - 55-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 approaching O/B is less than ideal for bulls. Bears now need a close
below the 55-DMA to ease bullish pressure and below 100.265 to confirm a break
of the 200-DMA (100.269) & shift immediate focus back to 100.245 and overall
focus back to 2018 lows.
US 10-YR FUTURE TECHS: (U18) 120-07 Resistance Key Today
*RES 4: 120-20 High July 6
*RES 3: 120-18+ Bollinger band top
*RES 2: 120-13 Hourly resistance June 12
*RES 1: 120-07 Hourly resistance July 9
*PRICE: 120-02+ @ 0430GMT
*SUP 1: 119-30 Low July 3
*SUP 2: 119-26+ Low June 26
*SUP 3: 119-22+ 100-DMA
*SUP 4: 119-14+ 55-DMA
*COMMENTARY: The lack of follow through on last week's break of 120-16 has left
the contract looking offered with focus now on the 100-DMA. Bears now look for a
close below to 100-DMA to shift immediate focus to 119-13+/14+ where the 55-DMA
is noted and below 118-29+ to target 2018 lows. Bulls now need a close above
120-07 to gain breathing room and above 120-20 to confirm focus on the key
121-03/12 region.
US 10-YR YIELD TECHS: 2.884-2.950 Resistance Region Key
*RES 4: 2.950 - High June 21
*RES 3: 2.935 - Hourly resistance June 21
*RES 2: 2.900 - High June 26
*RES 1: 2.884 - High July 3
*PRICE: 2.866 @ 0430GMT
*SUP 1: 2.847 - Hourly support July 9
*SUP 2: 2.838 - Hourly support July 9a
*SUP 3: 2.807 - Low July 6
*SUP 4: 2.790 - Hourly support May 30a
*COMMENTARY: Overall bearish focus remains on 2.717-759 where Apr & May lows are
noted. The Bollinger base (2.800) and modestly O/S studies remain key concern
for bears and limit follow through. Bulls continue to 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: Below 3424.60 To Ease Bullish Pressure
*RES 4: 3540.64 High June 15
*RES 3: 3514.70 200-DMA
*RES 2: 3505.02 Low June 15 now resistance
*RES 1: 3486.36 55-DMA
*PREVIOUS CLOSE: 3460.44
*SUP 1: 3451.38 100-DMA
*SUP 2: 3424.60 High June 27 now support
*SUP 3: 3389.44 Alternating daily support/resistance
*SUP 4: 3340.50 Low June 27
*COMMENTARY: Gains to start the new week add to bullish confidence with focus
currently on 3486.36-3540.64 where 55 & 200-DMAs are situated. Daily studies
have room to move before O/B is an issue. Bears continue to look for a close
below 3264.60 to gain breathing room and below 3389.44 to pressure June lows.
Bulls now need a close above 3540.64 to shift initial focus to 3600.36 and add
support to the case for a move targeting 2018 highs.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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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.