MNI US Morning FI Technical Analysis

15 May 2018

By Kyle Shortland

Click below for today's MNI US Morning FI Technical Analysis Report -

http://tinyurl.com/h8pyhnq

US 5-YR FUTURE TECHS: (M18) Initial Focus On 112-23+/113-01+

*RES 4: 113-17+ High May 7

*RES 3: 113-13+ 21-DMA

*RES 2: 113-11+ Alternating hourly support/resistance

*RES 1: 113-07+ Low May 4 now resistance

*PRICE: 113-04+ @ 0930GMT

*SUP 1: 113-04+ 2018 Low May 15

*SUP 2: 113-02+ Bollinger band base

*SUP 3: 113-01+ Monthly Low Nov 2008

*SUP 4: 112-23+ Daily Bear channel base

*COMMENTARY: Bears take comfort in fresh 2018 lows with initial pressure

112-23+/113-01+ where Nov 2008 monthly lows and the bear channel base are noted.

Follow through on pops above the 21-DMA remains lacking. Bulls now need a close

above the 21-DMA to ease bearish pressure although layers of resistance

113-17+/27+ remain an issue. Daily studies have room to move before O/S is an

issue.

     US 10-YR FUTURE TECHS: (M18) 118-31 Support Key

*RES 4: 120-03+ 55-DMA

*RES 3: 120-02+ Low Apr 18 now resistance

*RES 2: 119-16+ 21-DMA

*RES 1: 119-07  Hourly resistance May 15

*PRICE: 119-01+ @ 0930GMT

*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: 117-07+ Weekly Bear channel base

*COMMENTARY: Follow through below 119-08 was lacking but bears take comfort in

the bounce remaining capped ahead of the 21-DMA. Bulls look for a close above

120-06+ to confirm breaks of 21 & 55-DMAs and shift initial focus back to

120-20+/24. Bears now look for a close below 118-31 to add weight to the case

for a test of the weekly bear channel base coming in around 117-07+ today. Daily

studies are well placed for a fresh leg lower.

     US 30-YR FUTURE TECHS: (M18) Below 141-14 To Initially Target 140-08

*RES 4: 144-08 High May 4

*RES 3: 143-21 Hourly resistance May 14

*RES 2: 143-06 21-DMA

*RES 1: 142-15 Low May 9 now resistance

*PRICE: 142-07 @ 0930GMT

*SUP 1: 141-14 2018 Low Feb 21

*SUP 2: 140-08 Monthly Low Nov 2014

*SUP 3: 139-28 Weekly Bollinger band base

*SUP 4: 136-17 Daily Bear channel base

*COMMENTARY: M18 continues to struggle to gain traction above the 21-DMA with

bears currently focused on retests of the double daily bottom around 141-14

where 2018 & Apr lows are noted. Bulls need a close above the 21-DMA to gain

breathing room and pressure 144-21, hinting at a move back to 146-02/147-07

where Apr highs are situated. Below 141-14 initially targets 140-08.

     US EURODOLLAR FUTURE TECHS: (M18) 55-DMA Support Key

*RES 4: 97.870 High Feb 13

*RES 3: 97.820 Monthly high Mar 2

*RES 2: 97.786 100-DMA

*RES 1: 97.740 Highs Mar 27 & 28

*PRICE: 97.708 @ 0930GMT

*SUP 1: 97.690 High May 14 now support

*SUP 2: 97.676 55-DMA

*SUP 3: 97.660 Alternating daily support/resistance

*SUP 4: 97.650 High May 10 now support

*COMMENTARY: The recovery from 2018 & 9+yr lows has resulted in a close above

the 55-DMA, the first since Sept 2017. Gains continued Monday with bulls now

focused on 97.786-820 where the 100-DMA and Mar highs are located. The Bollinger

top (97.695) is the key concern for bulls. Bears still need a close below the

55-DMA to gain breathing room and below the 21-DMA (97.638) to shift focus back

to 2018 lows.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]