Free Trial

E-MINI S&P TECHS: (M3) Resumes Its Uptrend

EQUITY TECHS
  • RES 4: 4422.45 1.382 projection of Dec 22 - Feb 2 - Mar 13 bull cycle
  • RES 3: 4400.00 Round number resistance
  • RES 2: 4393.25 High Apr 22 2022 (cont)
  • RES 1: 4327.50 High Aug 16 2022 (cont)
  • PRICE: 4321.75 @ 15:13 BST Jun 9
  • SUP 1: 4217.92 20-day EMA
  • SUP 2: 4165.06 50-day EMA
  • SUP 3: 4146.00 Low May 26
  • SUP 4: 4114.00 Low May 24 and a key support

S&P E-minis are trading higher today and the contract has cleared the recent highs. This confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows, marking an extension of the bull cycle that started in October 2022. The focus is on 4327.50, Aug 16 2022 high (cont). The 50-day EMA, at 4165.06 marks a key support. A break would signal a reversal. Initial firm support is at 4217.92, the 20-day EMA.

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.