MNI US Morning FI Technical Analysis

18 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 Remains Key

*RES 4: 113-09  21-DMA

*RES 3: 113-07+ Low May 4 now resistance

*RES 2: 113-05+ Low May 14 now resistance

*RES 1: 113-00+ High May 16

*PRICE: 112-30 @ 0930GMT

*SUP 1: 112-25  2018 Low May 17

*SUP 2: 112-20+ Daily Bear channel base

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

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

*COMMENTARY: Fresh 2018 & 9 yr lows lacked follow through Thursday which is less

than ideal given daily studies at O/S levels. In saying that, immediate bearish

focus remains on the daily bear channel base. The 113-00+ resistance remains

key. Bulls need 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) Bulls Need Close Above 21-DMA

*RES 4: 119-08+ 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: 118-18 @ 0930GMT

*SUP 1: 118-10+ 2018 Low May 17

*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 at 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 focus on 119-31/120-06+.

     US 30-YR FUTURE TECHS: (M18) Bulls Need Close Above 141-19

*RES 4: 142-18 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: 140-21 @ 0930GMT

*SUP 1: 140-08 Monthly Low Nov 2014

*SUP 2: 139-10 Weekly Bollinger band base

*SUP 3: 139-01 ST Daily Bear channel base

*SUP 4: 136-09 MT Daily Bear channel base

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

firmly on the 140-08 Nov 2014 monthly low. Below 140-08 remains 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 continue to look for a

close above 141-19 to gain breathing room.

     US EURODOLLAR FUTURE TECHS: (M18) 21-DMA Support Remains Key

*RES 4: 97.820 Monthly high Mar 2

*RES 3: 97.774 100-DMA

*RES 2: 97.730 High May 15

*RES 1: 97.708 Low May 15 now resistance

*PRICE: 97.680 @ 0930GMT

*SUP 1: 97.660 Alternating daily support/resistance

*SUP 2: 97.650 High May 10 now support

*SUP 3: 97.645 21-DMA

*SUP 4: 97.615 High May 7 now support

*COMMENTARY: The lack of topside follow through Tuesday left the contract

looking heavy and flirting with the 55-DMA (97.671). Layers of support remain

97.645-660 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]