Free Trial

E-MINI S&P TECHS: (Z3) Bear Cycle Hits Pause

EQUITY TECHS
  • RES 4: 4566.00 High Sep 15 and a key resistance
  • RES 3: 4514.50 High Sep 18
  • RES 2: 4431.80 50-day EMA
  • RES 1: 4427.75 High Oct 12
  • PRICE: 4421.00 @ 08:41 BST Oct 12
  • SUP 1: 4235.50 Low Oct 4
  • SUP 2: 4194.75 Low May 24
  • SUP 3: 4166.25 1.50 proj of the Jul 27 - Aug 18 - Sep 1 price swing
  • SUP 4: 4134.00 Low May 4

The e-mini S&P trades higher for a fifth consecutive session, with the index narrowing in on the cluster of resistance at the 50/100-dmas for the Dec contract. Overall, a bear cycle remains in play, however downside momentum has paused in favour of a corrective rally. Pivot resistance remains above at the 50-day EMA at 4431.80, with the medium-term outlook remaining bearish the longer price holds below this level.

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.