AMERICAS OIL: MNI: UMICH 1-Y INFLATION EXPECTATIONS 5.0% IN FINAL JUN SURVEY

BTP Block trade, suggested seller:

• IKM5 1.37k at 120.90.

• RES 4: 6080.75 High Feb 26    
• RES 3: 6057.00 High Mar 3  
• RES 2: 6000.00 Round number resistance
• RES 1: 5993.50 High May 20 and the bull trigger
• PRICE: 5943.00 @ 14:34 BST May 29 
• SUP 1: 5756.50/5728.00 Low May 23 / 50-day EMA and key support
• SUP 2: 5596.00 Low May 7  
• SUP 3: 5455.50 Low Apr 30
• SUP 4: 5355.25 Low Apr 24 

A bullish trend condition in S&P E-Minis remains intact and the latest pullback appears to have been a correction. Last Friday’s sell-off resulted in a print below the 20-day EMA, at 5794.26. A key support lies at 5728.00, the 50-day EMA. A clear break of this average is required to highlight a stronger reversal and signal scope for a deeper retracement. Sights are on the bull trigger at 5993.50, the May 20 high.

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