Free Trial

E-MINI S&P (Z1): Tests The 50-Day EMA

EQUITY TECHS
  • RES 4: 4800.00 Round number resistance
  • RES 1: 4783.40 1.764 proj of Jul 19 - Aug 16 - 19 price swing
  • RES 2: 4740.50/46.68 High Nov 22 / 1.618 of Jul 19-Aug 16-19 swing
  • RES 1: 4669.75/4717.00 High Nov 29 / High Nov 26
  • PRICE: 4607.00 @ 06:50 GMT Dec 1
  • SUP 1: 4567.21/4577.00 Low Nov 30 / 50-day EMA
  • SUP 2: 4543.75 Low Oct 27
  • SUP 3: 4472.00 High Sep 27
  • SUP 4: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger

S&P E-minis remain vulnerable following last week’s sharp sell-off on Nov 26 and yesterday’s weakness reinforces the current bearish threat. Attention is on the 50-day EMA at 4567.21. This average has in the past proved to be a reliable support and represents a key pivot level. If it manages to provide support, this would represent a potential bullish development and signal a base. A clear break however would highlight the risk of a deeper pullback.

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.