Free Trial

E-MINI S&P (U2): Bullish Outlook Despite Pullback

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: 4188.00 High Aug 8
  • PRICE: 4118.75 @ 06:53 BST Aug 10
  • SUP 1: 4008.43/3913.25 50-day EMA / Low Jul 26 and a key support
  • SUP 2: 3820.25 Low Jul 18
  • SUP 3: 3723.75 Low Jul 14
  • SUP 4: 3639.00 Low Jun 17 and a bear trigger

S&P E-Minis are consolidating and remain below recent highs. Short-term trend conditions are bullish. Continued gains would confirm a resumption of the current bull cycle and maintain the positive price sequence of higher highs and higher lows. The focus is on 4204.75 next, May 31 high and the next key resistance. On the downside, initial trend support is at 3913.25, the Jul 26 low. The 50-day EMA intersects at 4008.43.

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.