MNI US Morning FI Technical Analysis

16 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) Bulls Need Close Above 113-07+

*RES 4: 113-17+ High May 7

*RES 3: 113-11+ Alternating hourly support/resistance, 21-DMA

*RES 2: 113-07+ Low May 4 now resistance

*RES 1: 113-05+ Low May 14 now resistance

*PRICE: 112-31+ @ 0930GMT

*SUP 1: 112-27+ 2018 Low May 15

*SUP 2: 112-22+ Daily Bear channel base

*SUP 3: 112-12+ 2009 Low June 2009

*SUP 4: 111-06+ Monthly Low Oct 2008

*COMMENTARY: The aggressive sell-off Tuesday saw fresh 2018 & 9 yr lows with

immediate focus on the bear channel base and overall focus now on the 2009 low.

Layers of resistance have been left in the wake with bulls now needing a close

above 113-07+ to ease bearish pressure and above the 21-DMA to target a

correction back to 113-17+/26+ where the bear channel top and 55-DMA are

situated.

     US 10-YR FUTURE TECHS: (M18) Bears Focused On Weekly Bear Channel Base

*RES 4: 119-31+ High Apr 4

*RES 3: 119-13+ 21-DMA

*RES 2: 119-07  High May 15

*RES 1: 118-31  Low Apr 25 now resistance

*PRICE: 118-24 @ 0930GMT

*SUP 1: 118-16+ 2018 Low May 15

*SUP 2: 117-29+ Monthly Low Apr 8 2011

*SUP 3: 117-22+ 2011 Low Feb 9

*SUP 4: 117-07+ Weekly Bear channel base

*COMMENTARY: Recent topside hesitation around the 21-DMA provided the impetus

for a fresh leg lower and 2018 & 7yr lows. Bears focus attention on the weekly

bear channel base coming in around 117-07+. Daily studies have room to move

before O/S is an issue. Layers of resistance are accumulating and weighing.

Bulls now need a close above 119-07+ to ease bearish pressure and above the

21-DMA to pressure 119-31/120-06+.

     US 30-YR FUTURE TECHS: (M18) Immediate Focus On 140-08

*RES 4: 144-08 High May 4

*RES 3: 143-21 Hourly resistance May 14

*RES 2: 142-30 21-DMA

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

*PRICE: 141-10 @ 0930GMT

*SUP 1: 140-26 2018 Low May 15

*SUP 2: 140-08 Monthly Low Nov 2014

*SUP 3: 139-28 Weekly Bollinger band base

*SUP 4: 136-15 Daily Bear channel base

*COMMENTARY: M18 remained capped around the 21-DMA with immediate bearish focus

now on the 140-08 Nov 2014 monthly low. Bears then look for a close below 140-08

to target the daily bear channel base at 136-15 today. Bulls now need a close

above the 21-DMA to ease bearish pressure and target a correction back to layers

of resistance 144-08/145-10.

     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: 97.782 100-DMA

*RES 1: 97.740 Highs Mar 27 & 28

*PRICE: 97.710 @ 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 sees the contract gaining

traction above the 55-DMA with bulls currently focused on 97.782-820 where the

100-DMA and Mar highs are located. The Bollinger top (97.707) is the key concern

for bulls. Bears still need a close below the 55-DMA to gain breathing room and

below the 21-DMA (97.641) to shift focus back to 2018 lows.

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

[TOPICS: MTABLE]