Free Trial

E-MINI S&P (Z2): Holding On To Its Recent Gains

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: 4023.44 61.8% retracement of the Aug 16 - Oct 13 downleg
  • PRICE: 3988.50 @ 07:00 GMT Nov 15
  • SUP 1: 3842.49 50-day EMA
  • SUP 2: 3750.00 Low Nov 9
  • SUP 3: 3704.25 Low Nov3 and key short-term support
  • SUP 4: 3641.50 Low Oct 21

S&P E-Minis remains bullish and the contract is holding on to its recent gains. Price rallied sharply higher last week and cleared resistance at 3928.00, Nov 1 high. The break strengthens a short-term bullish condition and price has established a sequence of higher highs and higher lows on the daily scale. This opens 4023.44 next, a Fibonacci retracement. On the downside, key short-term support has been defined at 3704.25, the Nov 3 low.

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.