EQUITY TECHS: E-MINI S&P: (U5) Northbound
- RES 4: 6439.88 1.500 proj of the May 23 - Jun 11 - 23 price swing
- RES 3: 6402.44 1.382 proj of the May 23 - Jun 11 - 23 price swing
- RES 2: 6381.50 1.764 proj of the Apr 7 - 10 - 21 price swing
- RES 1: 6374.00 High Jul 21
- PRICE: 6366.00 @ 14:31 BST Jul 23
- SUP 1: 6288.25 Low Jul 17
- SUP 2: 6264.70/6120.59 20- and 50-day EMA values
- SUP 3: 6075.25 Low Jun 24
- SUP 4: 5959.00 Low Jun 23
S&P E-Minis have traded to a fresh cycle high this week. The climb confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode position highlighting a clear dominant uptrend. Sights are on 6381.50, a Fibonacci projection. Key support is at the 50-day EMA, at 6120.59. Support at the 20-day EMA is at 6264.70.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GOLD: Up 0.25% As Markets Await Iranian Response; Technicals Still Bullish
- Spot gold is up 0.25% at $3,376, trading in a volatile fashion in today's session as markets await Iran’s response to US strikes over the weekend. The lack of immediate Iranian retaliation against the US, alongside the broader USD bid, saw Gold pare its opening gap higher during Asia-Pac hours.
- Last week’s pullback in Gold is considered corrective, with moving average studies still in a bull mode position and highlighting a dominant uptrend. Additionally, price action since the May 15 low has been a sequence of higher highs and higher lows. Initial resistance is the June 16 high at $3,451.3.
- Key support to monitor is $3,282.7, the 50-day EMA.
- Elsewhere in precious metals, platinum and palladium are each up over 2% on the session. Platinum has seen an impressive bullish breakout since mid-May, now trading at its highest since 2021 and up 42% YTD. Price action in palladium has been relatively more subdued this year, but nonetheless has tracked higher since April and is up 17% YTD.
US: Trump Follows Up On Oil Post
Trump follows via Truth: Donald J. Trump
@realDonaldTrump
To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!
US: Trump On Oil Prices via Truth
Latest from Trump via Truth social: Donald J. Trump
@realDonaldTrump
EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!
