Free Trial

E-MINI S&P TECHS: (U3) Trend Needle Points North

EQUITY TECHS
  • RES 4: 4492.25 2.00 projection of the May 4 - 19 - 24 price swing
  • RES 3: 4485.18 Channel top from the Oct ‘22 low (cont)
  • RES 2: 4452.42 1.764 projection of the May 4 - 19 - 24 price swing
  • RES 1: 4439.50 High Jun 14
  • PRICE: 4420.25 @ 06:34 BST Jun 15
  • SUP 1: 4348.75/4304.28 High Jun 5 / 20-day EMA
  • SUP 2: 4232.58 50-day EMA
  • SUP 3: 4154.75 Low May 24
  • SUP 4: 4098.25 Low May 4 and a key support

S&P E-minis traded higher again Wednesday. The move 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 a climb towards 4452.42, a Fibonacci projection. Firm support is at 4304.28, the 20-day EMA. Initial support is at 4348.75, the Jun 5 high.

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.