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EQUITY TECHS: E-MINI S&P: (H5) Bulls Remain In The Driver’s Seat

EQUITY TECHS
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  • RES 4: 6184.00 1.236 proj of the Aug 5 - Sep 3 - 9 price swing
  • RES 3: 6200.00 Round number resistance   
  • RES 2: 6194.19 1.236 proj of the Aug 5 - Sep 3 - 9 price swing   
  • RES 1: 6178.75 High Dec 6 and the bull trigger       
  • PRICE: 6130.25 @ 14:44 GMT Dec 17
  • SUP 1: 6103.12 20-day EMA      
  • SUP 2: 6043.00/6010.18 Low Nov 26 / 50-day EMA 
  • SUP 3: 5970.25 Low Nov 21  
  • SUP 4: 5921.00 Low Nov 19

The S&P E-Minis contract is unchanged. The outlook remains bullish and the latest shallow pullback is considered corrective. Recent gains confirmed a resumption of the uptrend. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. A resumption of the trend would open 6194.19, a Fibonacci projection. Initial support to watch lies at 6103.12, the 20-day EMA.

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  • RES 4: 6184.00 1.236 proj of the Aug 5 - Sep 3 - 9 price swing
  • RES 3: 6200.00 Round number resistance   
  • RES 2: 6194.19 1.236 proj of the Aug 5 - Sep 3 - 9 price swing   
  • RES 1: 6178.75 High Dec 6 and the bull trigger       
  • PRICE: 6130.25 @ 14:44 GMT Dec 17
  • SUP 1: 6103.12 20-day EMA      
  • SUP 2: 6043.00/6010.18 Low Nov 26 / 50-day EMA 
  • SUP 3: 5970.25 Low Nov 21  
  • SUP 4: 5921.00 Low Nov 19

The S&P E-Minis contract is unchanged. The outlook remains bullish and the latest shallow pullback is considered corrective. Recent gains confirmed a resumption of the uptrend. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. A resumption of the trend would open 6194.19, a Fibonacci projection. Initial support to watch lies at 6103.12, the 20-day EMA.