Free Trial

E-MINI S&P (U2): Trades Below The Bear Trigger

EQUITY TECHS
  • RES 4: 4396.75 High Apr 22
  • RES 3: 4308.50 High Apr 28
  • RES 2: 4161.21/4204.75 50-day EMA / High May 31
  • RES 1: 4071.26 20-day EMA
  • PRICE: 3838.50@ 06:59 BST June 13
  • SUP 1: 3798.25 Intraday low
  • SUP 2: 3794.75 0.50 proj of the Mar 29 - May 20 - 31 price swing
  • SUP 3: 3720.50 Low Mar 4 2021 (cont)
  • SUP 4: 3697.99 0.618 proj of the Mar 29 - May 20 - 31 price swing

S&P E-Minis have started the week on a clear bearish note. Today’s sell-off has resulted in a print below 3810.00, the May 20 low and bear trigger. A clear break of this support would confirm a resumption of the primary downtrend and open 3697.99, 0.618 projection of the Mar 29 - May 20 - 31 price swing. On the upside, initial resistance is seen at 4071.26, the 20-day EMA.

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.