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EQUITY TECHS: E-MINI S&P: (H5) Approaching Key Resistance

EQUITY TECHS
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  • RES 4: 6200.00 Round number resistance   
  • RES 3: 6178.75 High Dec 6 and key resistance  
  • RES 2: 6163.75 High Dec 16
  • RES 1: 6156.00 Intraday high             
  • PRICE: 6153.25 @ 14:35 GMT Jan 24 
  • SUP 1: 6068.25/5961.75 High Jan 6 / Low Jan 16         
  • SUP 2: 5879.50/5809.00 Low Jan 15 / 13 and key S/T support
  • SUP 3: 5784.00 Low Nov 4
  • SUP 4: 5698.25 50.0% retracement of the Aug 5 - Dec 6 bull leg

S&P E-Minis remains firm and the contract has traded higher this week. Gains undermine a recent bearish theme. The contract has traded through the 50-day EMA and note that resistance at 6107.50, the Dec 26 high, has been breached. The clear break strengthens a bullish theme and opens 6178.75, the Dec 6 high and a key resistance. Initial firm support to watch is 5961.75, the Jan 16 low.

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  • RES 4: 6200.00 Round number resistance   
  • RES 3: 6178.75 High Dec 6 and key resistance  
  • RES 2: 6163.75 High Dec 16
  • RES 1: 6156.00 Intraday high             
  • PRICE: 6153.25 @ 14:35 GMT Jan 24 
  • SUP 1: 6068.25/5961.75 High Jan 6 / Low Jan 16         
  • SUP 2: 5879.50/5809.00 Low Jan 15 / 13 and key S/T support
  • SUP 3: 5784.00 Low Nov 4
  • SUP 4: 5698.25 50.0% retracement of the Aug 5 - Dec 6 bull leg

S&P E-Minis remains firm and the contract has traded higher this week. Gains undermine a recent bearish theme. The contract has traded through the 50-day EMA and note that resistance at 6107.50, the Dec 26 high, has been breached. The clear break strengthens a bullish theme and opens 6178.75, the Dec 6 high and a key resistance. Initial firm support to watch is 5961.75, the Jan 16 low.