Free Trial

E-MINI S&P TECHS: (U3) Has Pierced The Bull Trigger

  • RES 4: 4556.71 2.382 projection of the May 4 - 19 - 24 price swing
  • RES 3: 4535.96 Bull channel top drawn from the Mar 13 low
  • RES 2: 4532.08 2.236 projection of the May 4 - 19 - 24 price swing
  • RES 1: 4498.00 High Jun 30
  • PRICE: 4490.50 @ 07:09 BST Jul 4
  • SUP 1: 4397.52/4368.50 20-day EMA / Low Jun 26 and a key support
  • SUP 2: 4309.73 50-day EMA
  • SUP 3: 4269.50 Low Jun 2
  • SUP 4: 4216.00 Low May 31

A bull theme in S&P E-minis remains intact and last Friday’s gains reinforce this condition. The contract has pierced key resistance and the bull trigger at 4493.75, the Jun 16 high. A clear break of this level would confirm a resumption of the uptrend and pave the way for a climb towards 4532.08, a Fibonacci projection. On the downside, key trend support has been defined at 4368.50, the Jun 26 low.

To read the full story



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.