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E-MINI S&P (U2): Bullish Extension

EQUITY TECHS
  • RES 4: 4345.75 2.00 proj of the Jun 17 - 28 - Jul 14 price swing
  • RES 3: 4306.50 High May 4
  • RES 2: 4204.75 High May 31 and a key resistance
  • RES 1: 4173.25 Intraday high
  • PRICE: 4156.50 @ 13:15 BST Aug 4
  • SUP 1: 3985.44/13.25 50-day EMA / Low Jul 26 and key S/T support
  • SUP 2: 3820.25 Low Jul 18
  • SUP 3: 3723.75/3639.00 Low Jul 14 / Low Jun 17 and a bear trigger
  • SUP 4: 3578.27 0.618 proj of the Mar 29 - May 20 - 31 price swing

S&P E-Minis traded higher Wednesday to reinforce current bullish conditions. Conditions remain bullish. The break of Monday’s 4147.25 high confirms a resumption of recent gains and maintains a bullish price sequence of higher highs and higher lows. This opens 4204.75 next, the May 31 high and the next key resistance. On the downside, initial trend support has been defined at 3913.25, the Jul 26 low. A break would highlight a possible reversal.

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