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E-MINI S&P (M1): All Eyes On Key Resistance

EQUITY TECHS

RES 4: 4288.80 3.0% 10-dma envelope

  • RES 3: 4239.26 1.764 proj of the Feb 1 - Feb 16 - Mar 4 price swing
  • RES 2: 4238.25 High May 10 and the bull trigger
  • RES 1: 4217.50 Intraday high
  • PRICE: 4209.75 @ 13:53 BST May 28
  • SUP 1: 4142.50 Low May 24
  • SUP 2: 4055.60 Low May 19
  • SUP 3: 4029.25 Low May 13 and key short-term support
  • SUP 4: 4021.00 Low Apr 5

S&P E-minis remain firm. The contract started this week on a bullish note and breached resistance at 4185.00, May 21 high. The contract has again edged higher today. Gains have also reinforced the bullish significance of the recent recovery from support defined by the 50-day EMA that has been tested twice this month. Attention is on key resistance and the bull trigger at 4238.25, May 10 high. Initial firm support is unchanged at 4055.50, May 19 low.

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