TRUDEAU SAYS `WE HAVE A LOT OF WORK TO DO'

MNI BRIEF: Canada NDP Will Bring Nonconfidence Motion In Jan.

CANADA NDP SAYS WILL INTRODUCE NONCONFIDENCE MOTION

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

EZ/UK T-Bill Calendar: Greece to Sell Bills Monday

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI: BELGIUM DEC BNB BUSINESS CONFIDENCE -13.8

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EQUITY TECHS: E-MINI S&P: (Z4) Bulls Remain In The Driver’s Seat

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6103.88 1.500 projection of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 projection of the Sep 6 - 17 - 18 price swing
  • RES 1: 6053.25 High Nov 11     
  • PRICE: 6016.50 @ 14:30 GMT Nov 13
  • SUP 1: 5927.25 High Oct 17 and a recent breakout level   
  • SUP 2: 5892.23/5809.43 20- and 50-day EMA values 
  • SUP 3: 5724.25 Low Nov 4 and a key support   
  • SUP 4: 5675.25 Low Sep 18

The trend condition in S&P E-Minis remains bullish and the contract is holding on to the bulk of its recent gains. A key short-term support has been defined at 5724.25, the Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.

170 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: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6103.88 1.500 projection of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 projection of the Sep 6 - 17 - 18 price swing
  • RES 1: 6053.25 High Nov 11     
  • PRICE: 6016.50 @ 14:30 GMT Nov 13
  • SUP 1: 5927.25 High Oct 17 and a recent breakout level   
  • SUP 2: 5892.23/5809.43 20- and 50-day EMA values 
  • SUP 3: 5724.25 Low Nov 4 and a key support   
  • SUP 4: 5675.25 Low Sep 18

The trend condition in S&P E-Minis remains bullish and the contract is holding on to the bulk of its recent gains. A key short-term support has been defined at 5724.25, the Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.