MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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) Testing Resistance

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing  
  • RES 3: 5800.00 Round number resistance  
  • RES 2: 5785.00 High Jul 16 and key resistance
  • RES 1: 5730.50/5737.00 High Sep 3 / 17        
  • PRICE: 5968.50 @ 14:38 BST Sep 18
  • SUP 1: 5592.07/5451.25 50-day EMA / Low Sep 6 and a bear trigger     
  • SUP 2: 5424.75 Low Aug 13  
  • SUP 3: 5383.49 61.8% retracement of the Aug 5 - Sep 3 bull leg  
  • SUP 4: 5301.51 76.4% retracement of the Aug 5 - Sep 3 bull leg

S&P E-Minis traded higher again Tuesday, and the contract maintains a firmer tone. Last week’s gains highlight a bullish reversal and the end of the Sep 3 - 6 corrective cycle. The contract is trading above the 20- and 50-day EMAs and resistance at 5730.50, the Sep 3 high, remains exposed. This level has been pierced, a clear break of it would open 5785.00, the Jul 16 high and a bull trigger. First support is 5592.07, the 50-day EMA. 

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: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing  
  • RES 3: 5800.00 Round number resistance  
  • RES 2: 5785.00 High Jul 16 and key resistance
  • RES 1: 5730.50/5737.00 High Sep 3 / 17        
  • PRICE: 5968.50 @ 14:38 BST Sep 18
  • SUP 1: 5592.07/5451.25 50-day EMA / Low Sep 6 and a bear trigger     
  • SUP 2: 5424.75 Low Aug 13  
  • SUP 3: 5383.49 61.8% retracement of the Aug 5 - Sep 3 bull leg  
  • SUP 4: 5301.51 76.4% retracement of the Aug 5 - Sep 3 bull leg

S&P E-Minis traded higher again Tuesday, and the contract maintains a firmer tone. Last week’s gains highlight a bullish reversal and the end of the Sep 3 - 6 corrective cycle. The contract is trading above the 20- and 50-day EMAs and resistance at 5730.50, the Sep 3 high, remains exposed. This level has been pierced, a clear break of it would open 5785.00, the Jul 16 high and a bull trigger. First support is 5592.07, the 50-day EMA.