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E-MINI S&P (Z1): Approaching The All-Time High

  • RES 4: 4600.00 Round number resistance
  • RES 1: 4591.25 1.00 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • RES 3: 4539.50 High Sep 3 and the bull trigger
  • RES 1: 4519.75 High Sep 9
  • PRICE: 4519.25 @ 14:08 BST Oct 21
  • SUP 1: 4398.57 50-day EMA
  • SUP 2: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger
  • SUP 3: 4243.50 Low Jul 20
  • SUP 4: 4214.50 Low Jul 19 and a key support

S&P E-minis traded higher Wednesday and futures are holding onto recent gains. Price action on Oct 14 resulted in a move above the 50-day EMA. The break has strengthened the case for bulls and this week's positive price action has resulted in a move above 4472.00, Oct 7 high and 4500.00. This opens 4539.50, Sep 3 high and a bull trigger. A key support is at 4317.25, Oct 12 low. The 50-day EMA at 4403.64 is first support.

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