Free Trial

E-MINI S&P (H2): 50-Day EMA Appears Exposed

EQUITY TECHS
  • RES 4: 4854.19 0.764 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 1: 4800.00 Round number resistance
  • RES 2: 4783.78 0.618 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 1: 4735.00 High Nov 22 and the bull trigger
  • PRICE: 4629.25 @ 14:15 GMT Dec 15
  • SUP 1: 4582.29 50-day EMA
  • SUP 2: 4485.75 Low Dec 3 and the bear trigger
  • SUP 3: 4493.88 61.8% retracement of the Oct 1 - Nov 22 rally
  • SUP 4: 4436.97 76.4% retracement of the Oct 1 - Nov 22 rally

S&P E-minis started the week on a firmer note but have failed to hold onto those early gains. Yesterday’s pullback resulted in a move below the 20-day EMA and brings back into view the 50-day EMA, at 4582.29. This average is a pivot level and the recent strong recovery through it has improved conditions for bulls. A clear break below it would be bearish. The key resistance and bull trigger is at 4735.00, the Nov 22 all-time high.

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.