EQUITY TECHS: E-MINI S&P: (U5) Bulls Remain In the Driver’s Seat
- RES 4: 6673.37 2.236 proj of the May 23 - Jun 11 - 23 price swing
- RES 3: 6623.57 2.0% 10-dma envelope
- RES 2: 6600.00 Round number resistance
- RES 1: 6565.25 High Sep 10
- PRICE: 6554.25 @ 14:19 BST Sep 11
- SUP 1: 6469.93 20-day EMA
- SUP 2: 6372.16 50-day EMA
- SUP 3: 6313.25 Low Aug 6
- SUP 4: 6239.50 Low Aug 1 and a key support
A bull cycle in S&P E-Minis remains intact and the latest pullback has once again proved to be a shallow correction. The contract traded to a fresh cycle high on Wednesday, breaching the Sep 5 high of 6541.75. This confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on the 6600.00 handle next. Initial support to watch is 6469.93, the 20-day EMA.
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