Free Trial

E-MINI S&P (M3): Bull Cycle Intact

  • RES 4: 4244.00 High Feb 2 and a bull trigger
  • RES 3: 4223.00 High Feb 14
  • RES 2: 4205.50 High Feb 16
  • RES 1: 4189.00 High Apr 14
  • PRICE: 4160.50 @ 14:25 BST Apr 17
  • SUP 1: 4098.58 20-day EMA
  • SUP 2: 4065.03 50-day EMA
  • SUP 3: 3980.75 Low Mar 28
  • SUP 4: 3937.00 Low Mar 24

The current trend condition in S&P E-minis is unchanged and remains bullish. Price has recently breached 4119.50, Mar 6 high, reinforcing a positive theme. The move higher also resulted in a break of 4148.48, 76.4% of the Feb 2 - Mar 13 downleg. This signals scope for an extension to 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Firm support lies at 4065.03, the 50-day EMA.

To read the full story



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.