Free Trial

E-MINI S&P TECHS: (M4) Trend Structure Remains Bullish

EQUITY TECHS
  • RES 4: 5303.38 3.0% Bollinger Band
  • RES 3: 5300.00 Round number resistance
  • RES 2: 5282.68 2.0% 10-dma envelope
  • RES 1: 5257.25 High Mar 8
  • PRICE: 5201.00 @ 13:24 GMT Mar 12
  • SUP 1: 5137.36 20-day EMA
  • SUP 2: 5022.53 50-day EMA
  • SUP 3: 4994.25 Low Feb 13
  • SUP 4: 4921.00 Low Jan 31

The trend condition in S&P E-Minis is bullish and the latest pullback is considered corrective. Last week’s fresh highs reinforce current conditions. Note that price action continues to highlight the fact that corrections remain shallow. This is a bullish signal highlighting positive market sentiment. Support to watch is 5137.36 the 20-day EMA. A clear break of this average would open 5022.53, the 50-day EMA. Sights are on 5300.00 next.

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.