Free Trial
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.
EQUITIES
There has been some focus this morning on the pullback in E-Minis, From a technical perspective it is worth noting that this week's gains have so far stalled at a key chart point.
- Earlier this week we highlighted the relatively flat correction that has unfolded since Sep 3.
- A bear channel is evident since the peak in early Sep.
- Yesterday, the top of the channel intersected 3510.25. Price action probed this ceiling with a print of 3522.50 before pulling back.
- A clear break of yesterday's high would highlight a channel break out and expose key resistance at:
- 3541.00, Oct 12 high and
- 3576.25, Sep 3 high and the primary bull trigger. A break of this level would confirm a resumption of the broader uptrend.
- A failure at the channel top would suggest scope for a deeper pullback though. The Oct 30 low lies at 3225.00.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok