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MNI EXCLUSIVE

Interview W IES Director On Outlook For UK Wages

EGB OPTIONS

German option recap

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  • RES 4: 4610.63 1.50 proj of Jun 21 - Jul 14 - 19 price swing
  • RES 3: 4600.00 Round number resistance
  • RES 2: 4580.21 1.382 proj of Jun 21 - Jul 14 - 19 price swing
  • RES 1: 4549.50 High Sep 3
  • PRICE: 4519.25 @ Close Sep 3
  • SUP 1: 4475.44 20-day EMA
  • SUP 2: 4400.53 50-day EMA
  • SUP 3: 4347.75 Low Aug 19 and the bear trigger
  • SUP 4: 4224.00 Low Jul 19 and key support

S&P E-minis remained near recent highs at the close Friday. The outlook is bullish and recent gains confirmed a resumption of the underlying uptrend. The contract's recovery from 4347.75, Aug 19 low means the 50-day EMA continues to provide support and this reinforces bullish conditions. The average intersects at 4400.53. A clear break of the EMA is required to signal a short-term reversal.