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E-MINI S&P TECHS: (M4) Testing Support At The 50-Day EMA

EQUITY TECHS
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5434.54 Bull channel top drawn from the Jan 17 low
  • RES 3: 5428.25 1.00 proj of the Oct 27 - Dec 28 - May 1 price swing
  • RES 2: 5400.00 Round number resistance
  • RES 1: 5285.00/5333.50 High Apr 10 / 1 and the bull trigger
  • PRICE: 5208.75 @ 14:47 BST Apr 15
  • SUP 1: 5150.00 Low Apr 12
  • SUP 2: 5100.00 Round number support
  • SUP 3: 5018.00 Low Feb 21
  • SUP 4: 4994.25 Low Feb 13

The trend condition in S&P E-Minis is unchanged and remains bullish. Near-term, the recent move down appears to be a correction and this is allowing an overbought signal to unwind. The contract has recently breached bull channel support drawn from the Jan 17 low. The next key support lies at the 50-day EMA, at 5159.12. A clear break of the EMA would signal scope for a deeper retracement. Key resistance is 5333.50, the Apr 1 high.

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  • RES 4: 5434.54 Bull channel top drawn from the Jan 17 low
  • RES 3: 5428.25 1.00 proj of the Oct 27 - Dec 28 - May 1 price swing
  • RES 2: 5400.00 Round number resistance
  • RES 1: 5285.00/5333.50 High Apr 10 / 1 and the bull trigger
  • PRICE: 5208.75 @ 14:47 BST Apr 15
  • SUP 1: 5150.00 Low Apr 12
  • SUP 2: 5100.00 Round number support
  • SUP 3: 5018.00 Low Feb 21
  • SUP 4: 4994.25 Low Feb 13

The trend condition in S&P E-Minis is unchanged and remains bullish. Near-term, the recent move down appears to be a correction and this is allowing an overbought signal to unwind. The contract has recently breached bull channel support drawn from the Jan 17 low. The next key support lies at the 50-day EMA, at 5159.12. A clear break of the EMA would signal scope for a deeper retracement. Key resistance is 5333.50, the Apr 1 high.