Free Trial

EQUITY TECHS: E-MINI S&P: (U4) Bull Cycle Extends 

EQUITY TECHS
  • RES 4: 5821.25 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing  
  • RES 3: 5800.00 Round number resistance  
  • RES 2: 5721.25 High Jul 16 and Key resistance
  • RES 1: 5664.00 High Jul 18       
  • PRICE: 5362.25 @ 07:28 BST Aug 20
  • SUP 1: 5470.32 50-day EMA  
  • SUP 2: 5319.50 Low Aug 9 
  • SUP 3: 5182.00 Low Aug 8 
  • SUP 4: 5120.00 Low Aug 5 and the bear trigger

S&P E-Minis traded higher Monday, reinforcing the current bull cycle and confirming an extension of the reversal that started Aug 5. Price has cleared resistance at 2600.75, the Aug 1 high and this signals scope for an extension towards key resistance and the bull trigger at 5721.25, the Jul 16 high. A break would confirm a resumption of the primary uptrend. On the downside, support to watch lies at 5470.32, 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.