July 15, 2024 13:49 GMT
E-MINI S&P TECHS: (U4) Trend Needle Points North
EQUITY TECHS
- RES 4: 5764.00 3.50 proj of the Apr 19 - 29 - May 2 price swing
- RES 3: 5741.34 3.236 proj of the Apr 19 - 29 - May 2 price swing
- RES 2: 5713.31 3.236 proj of the Apr 19 - 29 - May 2 price swing
- RES 1: 5708.25 High Jul 12
- PRICE: 5692.50 @ 14:38 BST Jul 15
- SUP 1: 5569.65 20-day EMA
- SUP 2: 5502.75/5461.50 Low Jul 2 / 50-day EMA
- SUP 3: 5398.75 Low Jun 11
- SUP 4: 5267.75 Low May 31 and key support
The trend condition in S&P E-Minis is bullish and the contract is holding on to its recent gains. The continuation higher last week confirms a resumption of the uptrend and maintains the bullish sequence of higher highs and higher lows. Moving average studies are in a clear bull-mode set-up too and this continues to highlight positive market sentiment. Sights are on the 5713.31, a Fibonacci projection. Firm support is at 5569.65, the 20-day EMA.
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