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Free AccessE-MINI S&P (M1): Support Remains Intact
- RES 4: 4315.90 Bull channel top drawn off the Apr 4 low
- RES 3: 4267.25 2.0% 10-dma envelope
- RES 2: 4239.26 1.764 proj of the Feb 1 - Feb 16 - Mar 4 price swing
- RES 1: 4238.25 Intraday high
- PRICE: 4230.75 @ 13:37 BST May 10
- SUP 1: 4126.45 Bull channel base drawn off the Apr 4 low
- SUP 2: 4120.50 Low May 4
- SUP 3: 4110.50 Low Apr 20 and key support
- SUP 4: 4052.90 50-day EMA
The e-mini S&P uptrend remains firmly in place. Last week's gains confirmed a resumption of the uptrend following the break of former resistance at 4211.00, Apr 29 high. This maintains the underlying positive price sequence of higher highs and higher lows with moving average studies also pointing north. The focus is on 4239.25, a Fibonacci projection ahead of 4300.00. Key support has been defined at 4120.50.
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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.