CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

(M3) Support At The 50-Day EMA Remains Exposed

EQUITY TECHS
  • RES 4: 4244.00 High Feb 2 and a bull trigger
  • RES 3: 4223.00 High Feb 14
  • RES 2: 4198.25/205.50 High Apr 18 and key resistance / High Feb 16
  • RES 1: 4164.25 High Apr 24
  • PRICE: 4099.50 @ 14:39 BST Apr 26
  • SUP 1: 4086.99 50-day EMA
  • SUP 2: 4061.11 38.2% retracement of the Mar 13 - Apr 18 bull leg
  • SUP 3: 4052.50 Low Mar 30
  • SUP 4: 4018.75 50.0% retracement of the Mar 13 - Apr 18 bull leg

A strong sell-off in S&P E-minis Tuesday resulted in a break below the 20-day EMA, at 4125.55. This exposes a more important support - the 50-day EMA - that intersects at 4086.99. A clear break of this average would highlight a top and expose 4061.11, a Fibonacci retracement. On the upside, initial firm resistance is seen at 4164.25, the Apr 24 high. A breach of this level would ease the developing bearish threat.

Energy BulletsCommodities
Energy BulletsCommodities

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.