EU HEALTHCARE: Merck KGaA (MRKGR): $11.3bn Acquisition #4

N12’s Amit Segal:

“It can now be revealed with censorship approval: 

The IDF is carrying out ground operations in Lebanon beyond the yellow line.”

• Market attention has been on the potential spoiler effect of intensifying Israeli military action in Lebanon on US-Iran negotiations.
• Note that Al Jazeera’s Ali Hashem reported the following on Monday citing an Iranian source:
• “Tehran has informed Washington that any Israeli attack on Beirut or the southern suburbs would seriously jeopardize the ongoing efforts to end the war, and could lead to the complete derailment of the diplomatic track.”
• For now, the operations appear to remain contained to the south of Lebanon. 

• RES 4: 7618.26 3.382 proj of the Apr 23 - 28 - 29 price swing 
• RES 3: 7600.00 Round number resistance
• RES 2: 7597.23 3.236 proj of the Apr 23 - 28 - 29 price swing
• RES 1: 7569.75 Intraday high
• PRICE: 7541.25 @ 14:27 BST May 26
• SUP 1: 7349.80 20-day EMA
• SUP 2: 7293.50 Low May 6  
• SUP 3: 7159.00 50-day EMA 
• SUP 4: 7131.25 Low Apr 29

The primary trend in S&P E-Minis is bullish and a fresh cycle high, reinforces current conditions and confirms a resumption of the uptrend. The break higher maintains the bullish price sequence of higher highs and higher lows and note that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 7597.23 next, a Fibonacci projection. Initial firm support to watch lies at 7349.80, the 20-day EMA.

0QM6 96.25c, bought for 2.5 in 4k.