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Free AccessE-MINI S&P TECHS: (M3) Remains Above Key Support
- RES 4: 4288.00 High Aug 19 2022
- RES 3: 4244.00 High Feb 2 and a medium-term bull trigger
- RES 2: 4223.00 High Feb 14
- RES 1: 4206.25 High May 1
- PRICE: 4097.50 @ 15:44 BST May 4
- SUP 1: 4068.75 Low Apr 26 and a key support
- SUP 2: 4061.11 38.2% retracement of the Mar 13 - Apr 18 bull leg
- SUP 3: 4052.50 Low Mar 30
- SUP 4: 4018.75 50.0% retracement of the Mar 13 - Apr 18 bull leg
S&P E-minis have traded to a low of 4075.50 today. The contract has found support and this leaves price above a key short-term level at 4068.75, the Apr 26 low. A break of this level would signal scope for a deeper short-term pullback. From a trend perspective, the condition remains bullish - moving average studies are in a bull-mode position. Clearance of 4206.25, Tuesday’s high, would confirm a resumption of the trend.
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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.