Free Trial

E-MINI S&P (Z2): Bull Flag

EQUITY TECHS
  • RES 4: 4175.00 High Sep 13 and a key resistance
  • RES 3: 4146.63 76.4% retracement of the Aug 16 - Oct 13 downleg
  • RES 2: 4100.00 Round number resistance
  • RES 1: 4050.75 High Nov 15
  • PRICE: 3960.75 @ 14:18 GMT Nov 21
  • SUP 1: 3861.92 50-day EMA
  • SUP 2: 3750.00 Low Nov 9
  • SUP 3: 3704.25 Low Nov 3 and key short-term support
  • SUP 4: 3641.50 Low Oct 21

The short-term outlook in S&P E-Minis remains bullish. Price is consolidating and a bull flag has appeared on the daily chart - a continuation pattern. Recent gains resulted in a break of 3928.00, the Nov 1 high. This has established a positive price sequence of higher highs and higher lows on the daily scale. The focus is on 4100.00 next. Initial firm support lies at 3861.92, the 50-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.