HALISTER1: OAT Futures Eyes March Trough as Channel Top Curbs Enthusiasm

OAT Futures Eyes March Trough as Channel Top Curbs Enthusiasm

(Bloomberg) -- OAT1 generic contract could be pressured toward its March low at 144.73 after rally reaches exhaustion point against upper-end of a two month trend-channel, Bloomberg technical analyst Sejul Gokal writes.
  • See chart here; OATM7 (June) now -13 ticks to 147.16
  • Contract rolling over against the top-end of a two month channel at ~148.36 with reversal studies flagging a ’10’ candle session count which typically warns at stall or turn in trend
  • Behavior of MACD histogram also reflects loss of momentum
    • Negative divergence was exhibited as contract made new multi-month peaks in early April
  • Generic contract holding above 146.80, which is the point- of-control of March, according to Market Profile framework; below here could signal move to March’s lower value line at 145.30
    • NOTE: point-of-control is where there has been highest price activity (i.e. fair value), and can be seen as support; area between lower and upper value lines captures 70% of the price distribution
  • Supports in focus:
    • 146.51 -- 50% of March/April rally
    • 146.09 -- 61.8% of March/April rally
    • 145.57 -- 76.4% of March/April rally
    • 145.11 -- Channel base
    • 144.73 -- March low
  • Risk level for bears at 148.30 at close
  • Jitters over the outcome of the France’s presidential election have increased after the far-left politician Jean- Luc Melenchon jumped in the latest polls (see more on French Election Risk here)
  • NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

People
Jean-Luc Melenchon (European Parliament)

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UUID: 7947283

HALISTER1: *CATHAY PACIFIC NAMES RUPERT HOGG AS CEO, REPLACING IVAN CHU

*CATHAY PACIFIC NAMES RUPERT HOGG AS CEO, REPLACING IVAN CHU

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
293 HK (Cathay Pacific Airways Ltd)
44 HK (Hong Kong Aircraft Engineering Co Ltd)
19 HK (Swire Pacific Ltd)
1972 HK (Swire Properties Ltd)
3368284Z AU (University of Sydney)

People
Chu Kwok Leung (Cathay Pacific Airways Ltd)
Christopher Gibbs (Cathay Pacific Airways Ltd)
Derek Cridland (Cathay Pacific Airways Ltd)
Fu Yat Hung (Swire Pacific Ltd)
Gregory Forrest (Hong Kong Aircraft Engineering Co Ltd)

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UUID: 7947283

HALISTER1: Hong Kong SFC Fines ISTAR Over Money-Laundering Control Failure

Hong Kong SFC Fines ISTAR Over Money-Laundering Control Failure

(Bloomberg) -- The Securities and Futures Commission reprimanded and fined iSTAR International Futures, now known as Rifa Futures, HK$3m over failures to comply with anti-money laundering regulatory requirements when processing third party fund transfers, the regulator says in statement on website. Link to Statement:Link

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283