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Free AccessKey Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
E-MINI S&P TECHS: (U3) Channel Breakout
- RES 4: 4634.50 High Jul 27 and the bull trigger
- RES 3: 4593.50/4634.50 High Aug 2 / Jul 27
- RES 2: 4560.75 High Aug 4
- RES 1: 4515.45 20-day EMA
- PRICE: 4449.75@ 14:31 BST Aug 16
- SUP 1: 4447.00 Low Aug 15 and the intraday low
- SUP 2: 4411.25 Low Jul 10
- SUP 3: 4400.00 Round number support
- SUP 4: 4368.50 Low Jun 26
A bearish theme in the E-mini S&P contract remains intact and this week’s move lower has reinforced current conditions. The contract is through the 50-day EMA and has breached channel support drawn from the Mar 13 low - the channel base is at 4461.67. A clear breakout would signal scope for a continuation lower and open 4411.25, the Jul 10 low. Initial resistance to watch is at the 20-day EMA - at 4515.45.
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Why MNI
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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.