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MNI US Morning Fixed Income Technical Analysis 

By Les Castell
     Click below for today's MNI US Morning FI Technical Analysis Report -
http://tinyurl.com/h8pyhnq
US 5YR FUTURE TECHS: (H18) Decline Finds Support From 8 Week Bear Channel Base
*RES 4: 116-282 Nov 28 high
*RES 3: 116-225/252 3 month falling res line, Nov 29 high
*RES 2: 116-227 Dec 1 high
*RES 1: 116-167/185 Hourly resistance
*PRICE: 116-122 @1040GMT
*SUP 1: 116-052 Dec 4 low
*SUP 2: 116-037 8 week bear channel base projection
*SUP 3: 115-220 3 month bear channel base projection
*SUP 4: 115-112 1% volatility band
*COMMENTARY* The decline continued last week, losing support from the Nov 21 low
at 116-145 in the process. A low of 116-052 on Monday before bouncing. A
sustained loss of 116-145 will swing the overall bias back to the downside and
focus on two bear channel base projections between 116-037 and 115-220.
Resistance meanwhile from 116-167/185 and then more importantly 116-225/116-252.
Require back through here before things can improve.
US 10YR FUTURE TECHS: (H18) Recovers After Hold Above October Lows
*RES 4: 125-065 Nov 8 high
*RES 3: 124-295/320 8 week falling res line, Nov 28 high
*RES 2: 124-275 Dec 1, Nov 29 highs
*RES 1: 124-190/200 Hourly resistance
*PRICE: 124-155 @1105GMT
*SUP 1: 123-295 Nov 30 low
*SUP 2: 123-270 Oct 25, Oct 27 lows
*SUP 3: 123-135 8 week bear channel base projection
*SUP 4: 123-075 1% volatility band
*COMMENTARY* The key 124-050/124-065 support area gave way last Thursday, a low
of 123-295 before recovering on the back of some near term oversold conditions.
This culminated in a return to the Nov 29 high at 124-275, before once again
falling back towards that 123-295 low again. This is the protection to the late
October lows at 123-270 and the 8 week bear channel base projection at 123-135.
Meanwhile, 124-190/124-200 becomes near term resistance.
US 30YR FUTURE TECHS: (H18) Back Trying To Sustain Break Of 154-06 Resistance
*RES 4: 155-04/08 Sep 25 high, 61.8% of 158-09/150-10
*RES 3: 154-23/26 76.4% of 156-14/149-07, November highs
*RES 2: 154-19 1% volatility band
*RES 1: 154-06/09 Dec 1, intraday highs
*PRICE: 154-01 @1118GMT
*SUP 1: 153-06 Hourly support
*SUP 2: 152-21 Dec 5 low
*SUP 3: 151-26 Hourly base Dec 1
*SUP 4: 150-30 Nov 10, 13 lows
*COMMENTARY* A fresh rally today, which aims to test the resolve of 154-06
resistance. Will need to sustain gains back through here, before the chance of a
look at the upper 1% volatility band, at 154-19 by time today and then the
previous area of resistance between 154-23/154-26, that capped rallies last
month. As a result, support moves up to 153-06 and then Tuesday's 152-21 low.
Back below the latter now would concern.
     US EURODOLLAR TECHS: (H18) Squeezing Lower After Break Below 98.260 Support
*RES 4: 98.365 Oct 30 high
*RES 3: 98.345 Oct 6 low, now resistance
*RES 2: 98.325 Nov 15 high
*RES 1: 98.295/305 Hourly resistance
*PRICE: 98.250 @1122GMT
*SUP 1: 98.230 Dec 5 low
*SUP 2: 98.200 Jan 26 high, Mar 15 low
*SUP 3: 98.185 61.8% Fibo of 97.535-98.240
*SUP 4: 98.165 Mar 30 2015 high, now support
*COMMENTARY* Some movement last month, support from 98.290 the 76.4% Fibo
retrace level gave way, followed by the Mar 16 base at 98.260. Now support from
98.240 is in trouble, a sustained break below and the dual support from 98.200
comes back into view. To provide any relief, then an initial move back above
98.295-98.305 is needed before thoughts can turn to a better 98.325-98.365
recovery.
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]
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