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

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: 6107.50 High Dec 26 
  • RES 1: 6078.25 Intraday high            
  • PRICE: 6063.25 @ 14:30 GMT Jan 21 
  • 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, marking an extension of last week’s bull phase. The move higher undermines the recent bearish theme. The contract has traded through the 50-day EMA and attention is on resistance at 6107.50, the Dec 26 high. Clearance of 6107.50 would strengthen a bullish theme. Key support has been defined at 5809.00, the Jan 13 low. A reversal lower and a breach of this level would reinstate a bear theme.

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  • RES 4: 6178.75 High Dec 6 and key resistance   
  • RES 3: 6163.75 High Dec 16  
  • RES 2: 6107.50 High Dec 26 
  • RES 1: 6078.25 Intraday high            
  • PRICE: 6063.25 @ 14:30 GMT Jan 21 
  • 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, marking an extension of last week’s bull phase. The move higher undermines the recent bearish theme. The contract has traded through the 50-day EMA and attention is on resistance at 6107.50, the Dec 26 high. Clearance of 6107.50 would strengthen a bullish theme. Key support has been defined at 5809.00, the Jan 13 low. A reversal lower and a breach of this level would reinstate a bear theme.