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E-MINI S&P TECHS: (U4) Bullish Continuation Pattern

EQUITY TECHS
  • RES 4: 5622.69 2.764 proj of the Apr 19 - 29 - May 2 price swing
  • RES 3: 5600.00 Round number resistance
  • RES 2: 5594.66 2.618 proj of the Apr 19 - 29 - May 2 price swing
  • RES 1: 5588.00 High Jun 20
  • PRICE: 5564.50 @ 07:20 BST Jul 3
  • SUP 1: 5488.93/5397.39 20- and 50-day EMA values
  • SUP 2: 5267.75 Low May 31 and key support
  • SUP 3: 5213.25 Low May 6
  • SUP 4: 5155.75 Low May 3

The trend condition in S&P E-Minis is unchanged and signals remain bullish. Resistance at 5430.75, the May 23 high and bull trigger, has recently been cleared. This break confirmed a resumption of the primary uptrend. Note that the recent pause in the trend still appears to be flag formation - a bullish continuation signal that reinforces current conditions. Sights are on 5594.66, a Fibonacci projection. Support to watch is 5496.53, the 20-day EMA.

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