Free Trial

E-MINI S&P (H3): Trend Needle Still Points North

EQUITY TECHS
  • RES 4: 4361.00 High Aug 16 and a key M/T resistance
  • RES 3: 4250.00 High Aug 26
  • RES 2: 4194.25 High Sep 13 and a key resistance
  • RES 1: 4180.00 High Dec 13
  • PRICE: 4052.75 @ 14:29 GMT Dec 15
  • SUP 1: 3960.81/3945.75 50-day EMA / Low Dec 7 and key support
  • SUP 2: 3782.750 Low Nov 9
  • SUP 3: 3735.00 Low Nov 3
  • SUP 4: 3670.00 Low Oct 21

A strong rally in the S&P E-Minis Tuesday saw price trade above 4142.50, Dec 1 high. The contract failed to hold onto the highs of the day and pulled back sharply. Despite the move lower, the outlook is bullish and Tuesday’s high maintains the bullish sequence of higher highs and higher lows. A resumption of gains would open 4194.25, the Sep 13 high. Key support is at 3945.75, the Dec 7 low. This is just below the 50-day EMA, at 3960.81.

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.