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E-MINI S&P (Z2): Trading Above Last Week’s Low


W/C 7 November, 2022


Sights Are On Key Resistance


BTP TECHS: (Z2) Trading Closer To Its Recent Lows


Approaching The 50-Day EMA

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(U2) Sinks Into the Close

  • RES 4: 130.00 Round number resistance
  • RES 3: 129.00 High May 12
  • RES 2: 127.79 High May 26
  • RES 1: 126.41 High Jul 1 and the bull trigger
  • PRICE: 122.85 @ Close Jul 20
  • SUP 1: 121.96 Low Jul 14
  • SUP 2: 119.81 Low Jun 28 and key S/T support
  • SUP 3: 118.60 Low Jun 22
  • SUP 4: 115.72 Low Jun 16

BTP futures traded lower into the Wednesday close as political crisis unfolded in Italy. The close at the lows was a bearish development, turning focus to nearby support at 121.96, the Jul 14 low. This rebuffs the formation of a bull flag and dents the bullish short-term trend condition. Weakness through 121.95 opens key support at 119.81, Jun 28 low.

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