MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITY TECHS: E-MINI S&P: (U4) Bullish Recovery

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • 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: 5604.67/5669.75 76.4% of the Sep 3 - 6 bear leg / High Sep 3        
  • PRICE: 5560.75 @ 14:39 BST Sep 12
  • SUP 1: 5515.90/5394.00 50-day EMA / Low Sep 6 and a bear trigger     
  • SUP 2: 5367.50 Low Aug 13  
  • SUP 3: 5330.00 61.8% retracement of the Aug 5 - Sep 3 bull leg  
  • SUP 4: 5249.74 76.4% retracement of the Aug 5 - Sep 3 bull leg

A volatile and bullish session in S&P E-Minis yesterday, highlights a possible bullish reversal and the end of the corrective cycle between Sep 3 - 6. The contract is trading above the 20- and 50-day EMAs and a continuation higher would signal scope for a climb towards 5669.75, the Sep 3 high. On the downside, a reversal lower and a breach of 5394.00, the Sep 6 low, would reinstate a bearish theme.

171 words

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.
  • 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: 5604.67/5669.75 76.4% of the Sep 3 - 6 bear leg / High Sep 3        
  • PRICE: 5560.75 @ 14:39 BST Sep 12
  • SUP 1: 5515.90/5394.00 50-day EMA / Low Sep 6 and a bear trigger     
  • SUP 2: 5367.50 Low Aug 13  
  • SUP 3: 5330.00 61.8% retracement of the Aug 5 - Sep 3 bull leg  
  • SUP 4: 5249.74 76.4% retracement of the Aug 5 - Sep 3 bull leg

A volatile and bullish session in S&P E-Minis yesterday, highlights a possible bullish reversal and the end of the corrective cycle between Sep 3 - 6. The contract is trading above the 20- and 50-day EMAs and a continuation higher would signal scope for a climb towards 5669.75, the Sep 3 high. On the downside, a reversal lower and a breach of 5394.00, the Sep 6 low, would reinstate a bearish theme.