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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) Focus On Two Channel Bases As 116-052 Support Creaks
*RES 4: 116-282 Nov 28 high
*RES 3: 116-252 Nov 29 high
*RES 2: 116-227 Dec 1 high
*RES 1: 116-170/177 Dec 6 high, 3 month falling res line
*PRICE: 116-050 @1145GMT
*SUP 1: 116-042/052 Intraday low, Dec 3, Dec 5 lows
*SUP 2: 116-012 9 week bear channel base projection
*SUP 3: 115-180 3 month bear channel base projection
*SUP 4: 115-055 1% volatility band
*COMMENTARY* The 116-052 area which has provided protection to the downside this
month, is currently under pressure. Lose here and then the 9 week bear channel
at 116-012 and the 3 month bear channel base at 115-180 are next supports, ahead
of the lower 1% volatility band at 115-055. There is still resistance from
between 116-170 and the 3 month falling resistance line at 116-177 to deal with,
before the upside is then in a position to challenge the Dec 1 high at 116-227.
US 10YR FUTURE TECHS: (H18) 123-295 Support Back Under Pressure
*RES 4: 124-320 Nov 28 high
*RES 3: 124-275 Dec 1, Nov 29 highs, 9 week res line
*RES 2: 124-230 Dec 6 high
*RES 1: 124-175/205 Hourly resistance, Dec 7 high
*PRICE: 123-315 @1152GMT
*SUP 1: 123-295 Nov 30 low
*SUP 2: 123-270 Oct 25, Oct 27 lows
*SUP 3: 123-115 9 week bear channel base projection
*SUP 4: 123-005 1% volatility band
*COMMENTARY* The 123-295 low from the end of last month still remains intact,
having also endured pressure earlier this month. The subsequent recovery
however, is still mired in resistance from below 124-230/124-275, requiring a
move back above the latter, before real interest in an upside resurgence will
appear. In the meantime, some earlier resistance from 124-175/124-205. Below
123-295 and 123-270 is the brake to a further 123-115/123-005 fall.
US 30YR FUTURE TECHS: (H18) Pullback Enters 152-13/151-15 Support Zone
*RES 4: 154-23/26 76.4% 156-14/149-07, November highs
*RES 3: 154-17/18 1% volatility band, Dec 6 high
*RES 2: 153-19 Dec 11 high
*RES 1: 153-06/08 Hourly resistance
*PRICE: 152-19 @1201GMT
*SUP 1: 152-05 Dec 12 low
*SUP 2: 151-26 Hourly base Dec 1
*SUP 3: 151-15 1% volatility band
*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 154-17 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 152-13/151-15 fall, ahead of
the dual Nov lows at 150-30. Meanwhile, back above 153-06/153-19 would help.
     US EURODOLLAR TECHS: (H18) Edging Ever Closer to 98.200 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: 98.215 @1205GMT
*SUP 1: 98.215 Dec 12 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 has broken, 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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