US Morning FI Technical Analysis

14 May 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: (M18) Spikes Capped Around 21-DMA

*RES 4: 113-22+ Daily Bear channel top off Apr high

*RES 3: 113-17+ High May 7

*RES 2: 113-14+ 21-DMA

*RES 1: 113-11+ Alternating hourly support/resistance

*PRICE: 113-08+ @ 0930GMT

*SUP 1: 113-07+ Low May 4

*SUP 2: 113-06+ 2018 Low Apr 25

*SUP 3: 113-01+ Monthly Low Nov 2008

*SUP 4: 112-24+ Daily Bear channel base

*COMMENTARY: Bears take comfort as pressure remains on 2018 lows. Bears look for

a close below 113-06+ to initially pressure 112-25+/113-01+ where Nov 2008

monthly lows and the bear channel base are noted. Follow through on pops above

the 21-DMA remains lacking. Bulls now need a close above 113-17+ to ease bearish

pressure although layers of resistance 113-22+/114-04 remain an issue.

US 10-YR FUTURE TECHS: (M18) Bulls Need Close Above 120-06+

*RES 4: 120-06+ High Apr 19

*RES 3: 120-04+ 55-DMA

*RES 2: 120-02+ Low Apr 18 now resistance

*RES 1: 119-19+ 21-DMA

*PRICE: 119-12+ @ 0930GMT

*SUP 1: 119-06  Low May 9

*SUP 2: 118-31  2018 Low Apr 25

*SUP 3: 118-24  Low Apr 13 2011

*SUP 4: 117-29+ Monthly Low Apr 8 2011

*COMMENTARY: Follow through below 119-08 was lacking but bears take comfort in

the bounce remaining capped ahead of the 21-DMA. Bulls look for a close above

120-06+ to confirm breaks of 21 & 55-DMAs and shift initial focus back to

120-20+/24. Bears now look for a close below 118-31 to add weight to the case

for a test of the weekly bear channel base coming in around 117-07+ today. Daily

studies are well placed for a fresh leg lower.

US 30-YR FUTURE TECHS: (M18) Below 141-14 To Initially Target 140-08

*RES 4: 145-16 100-DMA

*RES 3: 144-21 Lows Apr 16 & 18 now resistance

*RES 2: 144-08 High May 4

*RES 1: 143-21 Hourly resistance May 14

*PRICE: 142-28 @ 0930GMT

*SUP 1: 142-15 Low May 9

*SUP 2: 141-14 2018 Low Feb 21

*SUP 3: 140-08 Monthly Low Nov 2014

*SUP 4: 139-28 Weekly Bollinger band base

*COMMENTARY: M18 continues to struggle to gain traction above the 21-DMA

(143-12) with bears currently focused on retests of the double daily bottom

around 141-14 where 2018 & Apr lows are noted. Bulls need a close above 144-21

to ease bearish pressure and hint at a move back to 146-02/147-07 where Apr

highs are situated. Below 141-14 initially targets 140-08.

US EURODOLLAR FUTURE TECHS: (M18) Closes Above 55-DMA

*RES 4: 97.820 Monthly high Mar 2

*RES 3: 97.789 100-DMA

*RES 2: 97.740 Highs Mar 27 & 28

*RES 1: 97.705 High Apr 10

*PRICE: 97.690 @ 0930GMT

*SUP 1: 97.676 55-DMA

*SUP 2: 97.660 Alternating daily support/resistance

*SUP 3: 97.650 High May 10 now support

*SUP 4: 97.633 21-DMA

*COMMENTARY: The recovery from 2018 & 9+yr lows has resulted in a close above

the 55-DMA, the first since Sept 2017. This adds support to the case for a test

of the 97.740 level that is the current bullish focus. A close above this level

is then needed to target 97.820 Mar highs. Bears now need a close below the

55-DMA to gain breathing room and below the 21-DMA to shift focus back to 2018

lows.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]