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E-MINI S&P (M2): Extends This Week’s Climb

EQUITY TECHS
  • RES 4: 4663.50 High Jan 18
  • RES 3: 4631.00 High Mar 29 and a key resistance
  • RES 2: 4588.75 High Apr 5
  • RES 1: 4519.75 High Apr 8
  • PRICE: 4495.00 @ 14:24 BST Apr 21
  • SUP 1: 4355.50 Low Apr 18 and the bear trigger
  • SUP 2: 4321.07 61.8% retracement of the Mar 15 - Mar 29 rally
  • SUP 3: 4247.89 76.4% retracement of the Mar 15 - Mar 29 rally
  • SUP 4: 4129.50 Low Mar 15

S&P E-Minis are firmer today as the contract extends this week’s gains. The move higher refocuses attention on initial resistance at 4519.75, the Apr 8 high. Clearance of this level would signal potential for a stronger recovery, and open 4588.75, the Apr 5 high Current gains are still considered corrective. The bear trigger is at 4355.50, Apr 18 low where a break would resume recent bearish activity.

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