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EQUITY TECHS: E-MINI S&P: (H5) Is Through The 50-Day EMA 

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6178.75 High Dec 6 and key resistance   
  • RES 3: 6163.75 High Dec 16  
  • RES 2: 6068.25/6107.50 High Jan 6 / High Dec 26 
  • RES 1: 6051.50 Intraday high            
  • PRICE: 6042.25 @ 18:59 GMT Jan 17 
  • SUP 1: 5879.50/5809.00 Low Jan 15 / 13        
  • SUP 2: 5784.00 Low Nov 4 
  • SUP 3: 5698.25 50.0% retracement of the Aug 5 - Dec 6 bull leg
  • SUP 4: 5658.00 Low Sep 12 ‘24

A bear threat in the S&P E-Minis contract remains present. However, this week’s gains have resulted in a break above resistance at 5987.04, the 50-day EMA. The average marks an important pivot level and a clear break of it signals a possible reversal. This opens 6107.50, the Dec 26 high. Clearance of this level would strengthen a bullish theme. Key short-term support has been defined at 5809.00, the Jan 13 low.

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  • RES 4: 6178.75 High Dec 6 and key resistance   
  • RES 3: 6163.75 High Dec 16  
  • RES 2: 6068.25/6107.50 High Jan 6 / High Dec 26 
  • RES 1: 6051.50 Intraday high            
  • PRICE: 6042.25 @ 18:59 GMT Jan 17 
  • SUP 1: 5879.50/5809.00 Low Jan 15 / 13        
  • SUP 2: 5784.00 Low Nov 4 
  • SUP 3: 5698.25 50.0% retracement of the Aug 5 - Dec 6 bull leg
  • SUP 4: 5658.00 Low Sep 12 ‘24

A bear threat in the S&P E-Minis contract remains present. However, this week’s gains have resulted in a break above resistance at 5987.04, the 50-day EMA. The average marks an important pivot level and a clear break of it signals a possible reversal. This opens 6107.50, the Dec 26 high. Clearance of this level would strengthen a bullish theme. Key short-term support has been defined at 5809.00, the Jan 13 low.