September 20, 2024 13:33 GMT
EQUITY TECHS: E-MINI S&P: (Z4) Fresh All-Time High
EQUITY TECHS
- RES 4: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing
- RES 3: 5818.12 0.50 proj of the Sep 6 - 17 - 8 minor price swing
- RES 2: 5800.00 Round number resistance
- RES 1: 5797.50 High Sep 19
- PRICE: 5671.75 @ 14:23 BST Sep 20
- SUP 1: 5638.14 20-day EMA
- SUP 2: 5602.68 50-day EMA / 5424.75 Low Aug 13
- SUP 3: 5500.00 Round number support
- SUP 4: 5451.25 Low Sep 6 and a bear trigger
A bull cycle in S&P E-Minis remains in play and Thursday’s gains reinforce the current bullish condition. The contract has traded through a key and major resistance at 5785.00, the Jul 16 high and a bull trigger. A clear break of this hurdle would confirm a resumption of the long-term uptrend. Sights are on the 5800.00 handle next. First key support is 5602.68, the 50-day EMA. Initial support lies at 5638.14, the 20-day EMA.
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