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MNI US Morning FI Technical Analysis 

17 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) 113-00+ Resistance Key Today
*RES 4: 113-07+ Low May 4 now resistance
*RES 3: 113-05+ Low May 14 now resistance
*RES 2: 113-00+ High May 16
*RES 1: 112-28+ Hourly resistance May 16
*PRICE: 112-26+ @ 0930GMT
*SUP 1: 112-21+ Daily Bear channel base
*SUP 2: 112-12+ 2009 Low June 2009
*SUP 3: 111-06+ Monthly Low Oct 2008
*SUP 4: 109-25+ Monthly Low July 2008
*COMMENTARY: Fresh 2018 & 9 yr lows continue 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 113-00+ to gain
breathing room and above the 21-DMA to target a correction back to 113-17+/25+
where the bear channel top and 55-DMA are situated.
     US 10-YR FUTURE TECHS: (M18) 21-DMA Resistance Remains Key
*RES 4: 119-10+ 21-DMA
*RES 3: 119-07  High May 15
*RES 2: 118-31  Low Apr 25 now resistance
*RES 1: 118-25+ High May 16
*PRICE: 118-13 @ 0930GMT
*SUP 1: 118-14  2018 Low May 16
*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 fresh 2018 & 7yr lows. Bears focus attention on the weekly bear channel base
coming in around 117-07+. Daily studies now approaching O/S is less than ideal
but layers of resistance are accumulating and weighing. Bulls now need a close
above 118-31 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: 142-24 21-DMA
*RES 3: 142-15 Low May 9 now resistance
*RES 2: 141-19 High May 16
*RES 1: 140-26 Low May 15 now resistance
*PRICE: 140-19 @ 0930GMT
*SUP 1: 140-08 Monthly Low Nov 2014
*SUP 2: 139-10 Weekly Bollinger band base
*SUP 3: 139-06 ST Daily Bear channel base
*SUP 4: 136-12 MT 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. Below 140-08 is then needed to initially
focus on the base of the ST channel off Apr 11 highs with overall focus on the
base of the MT channel off Dec highs. Bulls look for a close above 141-19 to
gain breathing room.
     US EURODOLLAR FUTURE TECHS: (M18) Bears Need Close Below 21-DMA
*RES 4: 97.820 Monthly high Mar 2
*RES 3: 97.780 100-DMA
*RES 2: 97.730 High May 15
*RES 1: 97.708 Low May 15 now resistance
*PRICE: 97.675 @ 0930GMT
*SUP 1: 97.660 Alternating daily support/resistance
*SUP 2: 97.650 High May 10 now support
*SUP 3: 97.642 21-DMA
*SUP 4: 97.615 High May 7 now support
*COMMENTARY: The lack of topside follow through Tuesday left the contract
looking heavy with pressure now on the 55-DMA (97.673). Layers of support remain
97.642-660 with bears needing a close below the 21-DMA to end bullish hopes and
shifts focus back to 97.595 2018 lows. Bulls now need a close above 97.740 to
reconfirm a bullish bias and focus on the 100-DMA. Correcting O/B studies adds
weight to the bearish case.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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