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Move Lower In E-Minis Fails To Test 4,400

EQUITIES

E-minis find a bit of a base after a look through yesterday’s low failed to result in a challenge of the 4,400 level, with the contract back to ~4,415 at typing. This comes as the USD moves off best levels and core global FI markets stabilise a little after a round of cheapening. The bullish technical theme in the contract remains intact, with bears needing to force a break of the Jun 13 low/20-day EMA area (4,381.75/4,342.60) to start turning the tide and expose more meaningful technical support.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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