Free Trial

E-MINI S&P (U2): Bulls Still In The Driver's Seat

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: 4145.75 High Jun 9
  • PRICE: 4097.25 @ 12:42 BST Jul 29
  • SUP 1: 3913.25 Low Jul 26 and key near-term 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 Thursday, marking an extension of Wednesday's climb that resulted in a breach of 4016.25, the Jul 22 high. The break higher confirms a resumption of the current bull cycle and signals potential for a climb towards 4145.75, the Jun 9 high. The next key resistance is at 4204.75, the May 31 high. Initial support has been defined at 3913.25, the Jul 26 low. A break would highlight a possible early bearish reversal signal.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.