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US TSY FUTURES

Hawks Coming to Roost

OPTIONS

Expiries for Sep24 NY cut 1000ET (Source DTCC)

US EURODLR OPTIONS

Two-Way 3Y Midcurve Puts

By Les Castell
     
Click below for today's MNI US Morning FI Technical Analysis Report -
http://tinyurl.com/h8pyhnq
US 5YR FUTURE TECHS: (U18) Finds Some Support Around The 61.8% Fibo Retrace
*RES 4: 113-292 May 31 high
*RES 3: 113-257 Hourly congestion May 31 
*RES 2: 113-192/207 Hourly base May 29, May 31 low
*RES 1: 113-147/162 Hourly resistance, Jun 4 high
*PRICE: 113-092 @1043GMT
*SUP 1: 113-090/092 Hourly support
*SUP 2: 113-075/080 61.8% Fibo of 112-147/114-152, Jun 4 low
*SUP 3: 113-027 May 25 low
*SUP 4: 112-300 76.4% Fibo of 112-147/114-152
*COMMENTARY* Had continued to gain considerably, especially over the last week
or so but last Tuesday's 113-172/114-152 rise looks like an exhaustion spike.
This has basically seen a recovery to the upper 1% volatility band, a known
inhibitor to gains. The subsequent fall does nothing to question this so far,
given the loss of 113-192/113-172 support. Below then opens up some further
correction of the rise from 112-147, with 113-075 next Fibo retrace.
     
US 10YR FUTURE TECHS: (U18) Correction Approaches 119-110/119-045 Support
*RES 4: 120-150/160 May 31 high, hourly recovery high May 30
*RES 3: 120-070/080 Congestion area May 31-Jun 1
*RES 2: 119-305 Hourly high Jun 1
*RES 1: 119-240/265 Hourly resistance
*PRICE: 119-140 @1046GMT
*SUP 1: 119-135 Jun 4 low
*SUP 2: 119-110 May 28 low
*SUP 3: 119-045 61.8% Fibo of 117-300/121-030
*SUP 4: 118-300 May 24 low
*COMMENTARY* The recovery since the dip to 117-300 on May 17, resulted in a
sharp spike higher to 121-030 last Tuesday. Has subsequently seen a decent
pullback, as a result of some near term overbought conditions, just below the
50% Fibo retrace of that 117-300/121-030 rise, a low of 119-135 posted on
Monday. Resistance comes from 119-240/119-305, above would allow a higher
120-070/120-160 bounce. Below 119-135 and next support between 119-110/119-045.
     
US 30YR FUTURE TECHS: (U18) Decline Continues, 142-20/142-11 Next Support
*RES 4: 144-19 Hourly high May 31
*RES 3: 144-10 Hourly recovery high Jun 1
*RES 2: 143-20/28 Hourly congestion Jun 5-6, Jun 5 high
*RES 1: 143-11 Hourly resistance
*PRICE: 142-24 @1058GMT
*SUP 1: 142-20 50% Fibo of 139-11/145-28
*SUP 2: 142-11/14 May 24 high, May 28 low 
*SUP 3: 141-24/27 May 25 low, 61.8% of 139-11/145-28, 1% vol 
*SUP 4: 140-28 76.4% Fibo of 139-11/145-28
*COMMENTARY* Had continued to rally since seeing the 139-11 low on May 18. Last
Tuesday's final rise saw a spike to 145-28, just shy of the Apr 17 high at
146-02. The subsequent fall because of an accumulation of overbought conditions
has now seen 143-09/143-01 support give way. Lower and 142-20/142-11 is next
region to watch, ahead of the 61.8% retrace at 141-27. Meanwhile, 143-11/143-28
forms initial resistance to any bounce.
     
US EURODOLLAR TECHS: (U18) Examining 97.500 Support After 97.640 Caps Rise
*RES 4: 97.680 Mar 28 high
*RES 3: 97.640 May 29 high
*RES 2: 97.615 May 30 high
*RES 1: 97.565/575 Hourly resistance
*PRICE: 97.525 @1105GMT
*SUP 1: 97.500/510 May 17-22 lows
*SUP 2: 97.475 Apr 25, May 8 lows
*SUP 3: 97.425 50% Fibo of 95.695-99.155
*SUP 4: 97.395 Broken 9 month resistance line
*COMMENTARY* Saw a move back above the 9 month falling resistance line earlier
last month, which has fallen by time to 97.395 this week and this has been the
precursor to some recovery. We have subsequently seen a rally back to 97.640 so
far, where the rally has stalled, the Mar 28 high at 97.680 the next resistance
of consequence higher. As a result, support from 97.575-97.555 has been lost,
although 97.510-97.500 provides a stronger base below. 
--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com
[TOPICS: MTABLE]