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E-MINI S&P (U2): Trend Outlook Remains Bullish

EQUITY TECHS
  • RES 4: 4419.15 2.236 proj of the Jun 17 - 28 - Jul 14 price swing
  • RES 3: 4400.00 Round number resistance
  • RES 2: 4345.75 2.00 proj of the Jun 17 - 28 - Jul 14 price swing
  • RES 1: 4327.50 High Aug 16
  • PRICE: 4280.75 @ 16:26 BST Aug 18
  • SUP 1: 4208.25/4144.39 20-day EMA
  • SUP 2: 4063.32/3913.25 50-day EMA / Low Jul 26 and a key support
  • SUP 3: 3820.25 Low Jul 18
  • SUP 4: 3723.75 Low Jul 14

The S&P E-Minis outlook remains bullish. Recent gains confirmed an extension of the positive price sequence of higher highs and higher lows. Moving average conditions are in a bull mode set-up too and the focus is on 4345.75 next, a Fibonacci projection and potentially 4400.00 further out. On the downside, initial firm support is at 4144.39, the 20-day EMA. The 50-day EMA intersects at 4063.32 - a key support.

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