Free Trial

E-MINI S&P (Z2): Bullish Engulfing Candle Still In Play

EQUITY TECHS
  • RES 4: 4234.25 High Aug 26
  • RES 3: 4175.00 High Sep 13 and a key resistance
  • RES 2: 3912.75 50-day EMA
  • RES 1: 3820.00 High Oct 5
  • PRICE: 3746.75 @ 08:47 BST Oct 7
  • SUP 1: 3571.75 Low Oct 3 and the bear trigger
  • SUP 2: 3558.97 1.382 proj of the Aug 16 - Sep 7 - 13 price swing
  • SUP 3: 3506.38 1.50 proj of the Aug 16 - Sep 7 - 13 price swing
  • SUP 4: 3453.78 1.618 proj of the Aug 16 - Sep 7 - 13 price swing

S&P E-Minis traded higher again Wednesday, extending Monday’s reversal from 3571.75. Prices have been in a holding pattern since, with the bounce allowing for the oversold trend reading to unwind. Prices have now topped the 20-day EMA on an intraday basis, turning focus to the the 50-day EMA of 3912.75 for direction. Key support has been defined at 3571.75.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.