MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

E Mini S&P Pennant Reinforces A Bullish Theme

EQUITY TECHS
  • The consolidation that has dominated since Nov 9 appears to be a pennant formation. This is a pause in a trend and importantly is a continuation pattern.
  • Tuesdays gains highlight a breakout of the pennant suggesting that, from a timing perspective, the uptrend is ready to resume its climb.
  • Attention is on the key resistance at 3668.00, Nov 9 high and the bull trigger. A break would confirm a resumption of the uptrend and open 3699.03, the 1.382 Fibonacci projection of the Sep 24 - Oct 12 rally from the Oct 30 low.
  • Key support levels to watch:
    • 3572.25 - Low Nov 24
    • 3542.25 - Low Nov 19
    • 3506.50 - Low Oct 10 and a short-term reversal trigger
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.