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

EQUITY TECHS
  • RES 4: 4709.55 3.0% 10-dma envelope
  • RES 3: 4670.25 2.00 proj of the Jun 26 - 20 - Jul 7 price swing
  • RES 2: 4639.79 1.764 proj of the Jun 26 - 20 - Jul 7 price swing
  • RES 1: 4632.89 Bull channel top drawn from the March 13 low
  • PRICE: 4609.75 @ 08:00 BST Jul 27
  • SUP 1: 4522.44 20-day EMA
  • SUP 2: 4470.00 Low Jul 12
  • SUP 3: 4419.34 50-day EMA
  • SUP 4: 4386.29 Bull channel base drawn from the Mar 13 low

The E-mini S&P contract remains in a bull mode condition and is trading higher. Attention is on the top of the bull channel drawn from the March 13 low - the top intersects at 4632.89 today. A clear channel breakout would strengthen bullish conditions and open 4639.69, a Fibonacci projection. A corrective pullback would initially target the 20-day EMA at 4522.44 and a key short-term support.

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