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) Focus Back on 116-087/116-052 Support

*RES 4: 116-282 Nov 28 high

*RES 3: 116-252 Nov 29 high

*RES 2: 116-227 Dec 1 high

*RES 1: 116-170/185 Dec 6 high, 3 month falling res line

*PRICE: 116-090 @1150GMT

*SUP 1: 116-080/087 Hourly support, Dec 8 low

*SUP 2: 116-052 Dec 3, Dec 5 lows

*SUP 3: 116-017 9 week bear channel base projection

*SUP 4: 115-190 3 month bear channel base projection

*COMMENTARY* The 116-052 area has continued to provide protection to the

downside, having foiled two attempts to move lower. That said, there is still

resistance from between 116-170 and the 3 month falling resistance line at

116-185 to deal with, before the upside is then in a position to challenge the

Dec 1 high at 116-227, where bigger questions are asked. Meanwhile, some earlier

support is seen from 116-087/116-080.

US 10YR FUTURE TECHS: (H18) 124-230/124-285 Still Proving A Near Term Cap

*RES 4: 124-320 Nov 28 high

*RES 3: 124-275/285 Dec 1, Nov 29 highs, 9 week res line

*RES 2: 124-230 Dec 6 high

*RES 1: 124-195/205 Hourly resistance, Dec 7 high

*PRICE: 124-080 @1152GMT

*SUP 1: 124-030/050 Hourly support, Dec 8 low

*SUP 2: 123-295 Nov 30 low

*SUP 3: 123-270 Oct 25, Oct 27 lows

*SUP 4: 123-110 9 week bear channel base projection

*COMMENTARY* The 123-295 low from the end of last month remains intact, having

also endured pressure earlier this month. The subsequent recovery however, is

still mired in resistance from below 124-230/124-285, requiring a move back

above the latter, before real interest in an upside resurgence will appear. In

the meantime, some earlier resistance from 124-195/124-205 and the downside is

currently protected by 124-050/124-030.

US 30YR FUTURE TECHS: (H18) 152-13/151-26 The Support To Renewed Upside Attempts

*RES 4: 155-04/08 Sep 25 high, 61.8% of 158-09/150-10

*RES 3: 154-23/26 76.4% 156-14/149-07, November highs

*RES 2: 154-16/18 1% volatility band, Dec 6 high

*RES 1: 153-27/03 Hourly congestion area Dec 6-7

*PRICE: 152-29 @1157GMT

*SUP 1: 152-17 Dec 5 low

*SUP 2: 152-13 Hourly low Dec 4

*SUP 3: 151-26 Hourly base Dec 1

*SUP 4: 150-30 Nov 10, 13 lows

*COMMENTARY* A fresh rise last Wednesday, through 154-06 resistance but the

rally was halted by the upper 1% volatility band, which is now at 154-16 by time

today. Above and there is still congested resistance between 154-23/154-26, to

deal with, that capped rallies last month. As a result, have seen a pullback

below 152-21 which opens the prospect of a deeper 152-13/151-26 fall. In the

interim, back above 153-27/154-03 would help.

     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: 98.225 @1159GMT

*SUP 1: 98.225 Dec 11 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]