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

EQUITY TECHS
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RES 4: 6178.75 High Dec 6 and key resistance   

  • RES 3: 6163.75 High Dec 16  
  • RES 2: 6148.00 High Dec 18 
  • RES 1: 6114.75 Intraday high            
  • PRICE: 6116.00 @ 14:19 GMT Jan 22 
  • SUP 1: 5961.75 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 are trading higher this week, marking an extension of last week’s bull phase. Gains undermine a recent bearish theme. The contract has traded through the 50-day EMA and attention is on resistance at 6107.50, the Dec 26 high. It has been pierced, a clear break would strengthen a bullish theme. This would open 6178.75, the Dec 6 high and key resistance. Initial support to watch is 5961.75, the Jan 16 low. 

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RES 4: 6178.75 High Dec 6 and key resistance   

  • RES 3: 6163.75 High Dec 16  
  • RES 2: 6148.00 High Dec 18 
  • RES 1: 6114.75 Intraday high            
  • PRICE: 6116.00 @ 14:19 GMT Jan 22 
  • SUP 1: 5961.75 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 are trading higher this week, marking an extension of last week’s bull phase. Gains undermine a recent bearish theme. The contract has traded through the 50-day EMA and attention is on resistance at 6107.50, the Dec 26 high. It has been pierced, a clear break would strengthen a bullish theme. This would open 6178.75, the Dec 6 high and key resistance. Initial support to watch is 5961.75, the Jan 16 low.