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E-MINI S&P (U1): Bull Trend Firmly Intact

EQUITY TECHS
  • RES 4: 4610.63 1.50 proj of Jun 21 - Jul 14 - 19 price swing
  • RES 3: 4600.00 Round number resistance
  • RES 2: 4580.21 1.382 proj of Jun 21 - Jul 14 - 19 price swing
  • RES 1: 4542.58 1.236 proj of Jun 21 - Jul 14 - 19 price swing
  • PRICE: 4521.75 @ 14:14 BST Aug 31
  • SUP 1: 4449.30 20-day EMA
  • SUP 2: 4378.39 50-day EMA
  • SUP 3: 4347.75 Low Aug 19 and the bear trigger
  • SUP 4: 4224.00 Low Jul 19 and key support

S&P E-minis outlook remains bullish and the contract traded higher earlier today, registering a fresh all-time high once again confirming a resumption of the uptrend. The contract's recent recovery from 4347.75, Aug 19 low means the 50-day EMA remains intact and this reinforces bullish conditions. The average intersects at 4378.39 and represents a key area of support. A clear break is required to signal a short-term reversal.

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