Free Trial

E-MINI S&P TECHS: (Z3) Bulls Remain In The Driver’s Seat

  • RES 4: 4597.50 High Sep and a key resistance
  • RES 3: 4566.00 High Sep 15
  • RES 2: 4552.38 76.4% retracement of the Jul 27 - Oct 27 bear leg
  • RES 1: 4508.00 High Sep 20
  • PRICE: 4489.75 @ 14:35 GMT Nov 14
  • SUP 1: 4341.05 20-day EMA
  • SUP 2: 4257.75/4122.25 Low Nov 3 / Low Oct 27 and the bear trigger
  • SUP 3: 4100.00 Round number support 4124.19
  • SUP 4: 4090.35 1.764 proj of the Jul 27 - Aug 18 - Sep 1 price swing

S&P e-minis maintain a firmer tone and the contract has traded higher today, extending the current bull cycle. Resistance at 4425.38, a trendline drawn from the Jul 27 high, has been cleared. This reinforces bullish conditions and signals scope for gains above 4500.00 towards 4552.38, a Fibonacci retracement. On the downside, initial firm support is 4341.05, the 20-day EMA.

To read the full story



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.