MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EQUITY TECHS: E-MINI S&P: (Z4) Trend Needle Points North

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6200.00 Round number resistance
  • RES 3: 6184.00 1.000 proj of the Nov 4 - 11 - 19 price swing   
  • RES 2: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing   
  • RES 1: 6111.00 High Dec 6 and the bull trigger       
  • PRICE: 6069.25 @ 07:14 GMT Dec 13
  • SUP 1: 6028.33 20-day EMA      
  • SUP 2: 5976.25/5936.16 Low Nov 26 / 50-day EMA 
  • SUP 3: 5855.00 Low Nov 19  
  • SUP 4: 5814.75 Low Nov 6

The S&P E-Minis contract remains bullish and the latest pullback is considered corrective. Recent gains confirm a resumption of the uptrend and signal scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. A resumption of the uptrend would open 6145.26, a Fibonacci projection. Initial support to watch lies at 6028.33 the 20-day EMA.

144 words

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.
  • RES 4: 6200.00 Round number resistance
  • RES 3: 6184.00 1.000 proj of the Nov 4 - 11 - 19 price swing   
  • RES 2: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing   
  • RES 1: 6111.00 High Dec 6 and the bull trigger       
  • PRICE: 6069.25 @ 07:14 GMT Dec 13
  • SUP 1: 6028.33 20-day EMA      
  • SUP 2: 5976.25/5936.16 Low Nov 26 / 50-day EMA 
  • SUP 3: 5855.00 Low Nov 19  
  • SUP 4: 5814.75 Low Nov 6

The S&P E-Minis contract remains bullish and the latest pullback is considered corrective. Recent gains confirm a resumption of the uptrend and signal scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. A resumption of the uptrend would open 6145.26, a Fibonacci projection. Initial support to watch lies at 6028.33 the 20-day EMA.