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MNI US Morning FI Technical Analysis

9 July 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: (U18) Layers of Support 113-05/13
*RES 4: 120-24  Hourly resistance May 30a
*RES 3: 113-26  High July 6
*RES 2: 113-21+ Hourly resistance July 6
*RES 1: 113-19  Hourly support July 6 now resistance
*PRICE: 113-17+ @ 0930GMT
*SUP 1: 113-13  21-DMA
*SUP 2: 113-12+ Low June 26
*SUP 3: 113-13+ Daily Bull channel base off May low
*SUP 4: 113-08  55-DMA
*COMMENTARY: The lack of topside follow through Friday and failure to gain
traction on the break of 113-25+ leaves the contract looking offered. The
113-26/29+ resistance region is key. Bulls need a close above to initially
target 114-05+/15+ where a bull channel top and May highs are located. Layers of
support remain with bears needing a close below 113-05 to confirm breaks of 21 &
55-DMAs and the bull channel base and hint at a move back to 112-14+ May lows.
     US 10-YR FUTURE TECHS: (U18) Bears Need Close Below 120-03
*RES 4: 120-24  Hourly resistance May 30a
*RES 3: 120-20  High July 6
*RES 2: 120-18+ Bollinger band top
*RES 1: 120-13  Hourly resistance June 12
*PRICE: 120-07 @ 0930GMT
*SUP 1: 120-06+ Low July 6
*SUP 2: 120-03  Low July 5
*SUP 3: 119-30  Low July 3
*SUP 4: 119-26+ Low June 26
*COMMENTARY: Pressure on the 120-16 resistance took its toll with a spike higher
Friday only to have follow through impeded by the Bollinger band top. Modestly
O/B studies looking to correct are an issue. Bears now look for a close below
120-03 to ease bullish pressure and below the 100-DMA (119-22+) to shift initial
focus back to 119-13+/14+ with the 55-DMA at 119-14+. Bulls need a close above
120-13 to gain breathing room.
     US 30-YR FUTURE TECHS: (U18) 147-03 Resistance Key
*RES 4: 147-03 Monthly high Apr (Cont)
*RES 3: 147-01 Daily Bull channel top off May low
*RES 2: 146-23 Weekly Bear channel top off Sept high
*RES 1: 146-11 High July 6
*PRICE: 145-15 @ 0930GMT
*SUP 1: 144-30 Daily Bull channel base off May low
*SUP 2: 144-16 Low July 3
*SUP 3: 144-09 21-DMA
*SUP 4: 143-30 Low June 26
*COMMENTARY: The contract is looking offered having stalled ahead of the bear
channel top off Sept highs coming in around 147-01 today. Bulls need a close
above 147-03 to confirm a break and shift focus to 150-10 (Oct Low). Correcting
modestly O/B studies are a concern for bulls. Layers of support are noted
143-30/144-30. Bears need a close below 143-30 to confirm breaks of the channel
base and 21-DMA, shifting focus back to 143-01/06 where 55 & 100-DMAs are noted.
     US EURODOLLAR FUTURE TECHS: (U18) 97.520 & 100-DMA Key Levels
*RES 4: 97.640 Monthly high May 30
*RES 3: 97.595 High May 31
*RES 2: 97.562 100-DMA
*RES 1: 97.560 Repeated Daily highs June
*PRICE: 97.540 @ 0930GMT
*SUP 1: 97.528 55-DMA
*SUP 2: 97.520 Repeated Daily lows June
*SUP 3: 97.500 Low June 14
*SUP 4: 97.475 2018 Low Apr 25, May 8 & June 13
*COMMENTARY: Hesitation ahead of the 100-DMA continues with the 55-DMA having
supported the past couple of weeks. Bears need a close below 97.520 to confirm
breaks of 21 (97.535) & 55-DMAs, easing bullish pressure and hinting at a close
below 97.500 to pressure the key 97.475 support with below 97.500 to add weight
to the case. Above the 100-DMA ends bearish hopes and shifts initial focus to
97.560 and overall focus to 97.640.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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