Free Trial

E-MINI S&P (U2): Starting The Week On A Firmer Note

EQUITY TECHS
  • RES 4: 4308.50 High Apr 28
  • RES 3: 4204.75 High May 31 and a key resistance
  • RES 2: 3956.84 50-day EMA
  • RES 1: 3950.00 High Jun 27
  • PRICE: 3885.75 @ 06:56 BST Jul 18
  • SUP 1: 3723.75/3639.00 Low Jul 14 / Low Jun 17 and a bear trigger
  • SUP 2: 3578.27 0.618 proj of the Mar 29 - May 20 - 31 price swing
  • SUP 3: 3500.00 Round number support
  • SUP 4: 3384.75 0.764 proj of the Mar 29 - May 20 - 31 price swing

S&P E-Minis are starting the week on a firmer note, extending Friday’s gains and the rebound from last Thursday's low of 3723.75. Short-term gains are considered corrective - for now. Resistance to watch is at 3950.00, the Jun 27 high and the 50-day EMA, at 3956.84. A clear breach of this zone would strengthen a bullish case. On the downside, a resumption of weakness and a break of 3923.75 low, would open key support at 3639.00, Jun 17 low.

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.