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

EQUITY TECHS
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  • RES 4: 6205.38 0.764 proj of the Jan 13 - 24 - Feb 3 price swing     
  • RES 3: 6200.00 Round number resistance 
  • RES 2: 6178.75 High Dec 6 and key resistance
  • RES 1: 6162.25 High Jan 24                 
  • PRICE: 6143.75 @ 07:45 GMT Feb 14 
  • SUP 1: 6069.60 20-day EMA           
  • SUP 2: 6014.00/5935.50 Low Feb 10 / 3
  • SUP 3: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
  • SUP 4: 5842.50 Low Jan 14

S&P E-Minis have traded higher this week. The recovery undermines a recent bearish threat and attention turns to the next resistance at 6162.25, the Jan 24 high. Clearance of this level would expose key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend. On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would be viewed as a bearish development.

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  • RES 4: 6205.38 0.764 proj of the Jan 13 - 24 - Feb 3 price swing     
  • RES 3: 6200.00 Round number resistance 
  • RES 2: 6178.75 High Dec 6 and key resistance
  • RES 1: 6162.25 High Jan 24                 
  • PRICE: 6143.75 @ 07:45 GMT Feb 14 
  • SUP 1: 6069.60 20-day EMA           
  • SUP 2: 6014.00/5935.50 Low Feb 10 / 3
  • SUP 3: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
  • SUP 4: 5842.50 Low Jan 14

S&P E-Minis have traded higher this week. The recovery undermines a recent bearish threat and attention turns to the next resistance at 6162.25, the Jan 24 high. Clearance of this level would expose key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend. On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would be viewed as a bearish development.