May 27, 2024 06:35 GMT
(M4) Bulls Remains In The Driver’s Seat
EQUITY TECHS
- RES 4: 5417.75 2.00 proj of the Apr 19 - 29 - May 2 price swing
- RES 3: 5400.00 Round number resistance
- RES 2: 5372.73 1.764 proj of the Apr 19 - 29 - May 2 price swing
- RES 1: 5368.25 High May 23
- PRICE: 5321.00 @ 07:24 BST May 27
- SUP 1: 5259.02 20-day EMA
- SUP 2: 5200.14 50-day EMA
- SUP 3: 5099.25 Low May 3
- SUP 4: 5036.25 Low May 2
The uptrend in S&P E-Minis remains intact and the pullback last Thursday appears to be a correction. The contract also traded to a fresh cycle high that day, reinforcing a bullish theme. Recent gains also resulted in a break of 5333.50, Apr 1 high. This confirmed a resumption of the primary uptrend and has opened 5372.73, a Fibonacci projection. Moving average studies are in a bull-mode set-up. Initial support is 5259.02, the 20-day EMA.
145 words