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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
E-MINI S&P (M1): Dip Buyers Still Prevalent
- RES 4: 4280.50 Bull channel top drawn off the Apr 4 low
- RES 3: 4252.26 2.0% 10-dma envelope
- RES 2: 4239.26 1.764 proj of the Feb 1 - Feb 16 - Mar 4 price swing
- RES 1: 4211.00 High Apr 29
- PRICE: 4171.25 @ 08:50 BST May 5
- SUP 1: 4138.97 20-day EMA
- SUP 2: 4120.50 Low May 4
- SUP 3: 4110.50 Low Apr 20 and key support
- SUP 4: 4091.05 Bull channel base drawn off the Apr 4 low
The e-mini S&P remains below the Tuesday high, but has recovered well off the week's low of 4120.50, providing further evidence that dip buyers remain a key driver for markets. This keeps the outlook bullish and last week saw the contract trade to a cycle high of 4211.00. This once again confirms a resumption of the uptrend as the price sequence of higher highs and higher lows extends. The focus is on 4239.96, the 1.764 projection of the Feb 1 - Feb 16 - Mar 4 price swing. Key short-term support is unchanged at 4110.50, Apr 20 low.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.