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EQUITY TECHS: E-MINI S&P: (Z4) Trend Needle Points North

EQUITY TECHS
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  • RES 4: 6200.00 Round number resistance
  • RES 3: 6184.00 1.000 proj of the Nov 4 - 11 - 19 price swing   
  • RES 2: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing   
  • RES 1: 6107.25 High Dec 5      
  • PRICE: 6096.75 @ 14:27 GMT Dec 6
  • SUP 1: 6000.00 20-day EMA      
  • SUP 2: 5905.97 50-day EMA 
  • SUP 3: 5855.00 Low Nov 19  
  • SUP 4: 5814.75 Low Nov 6

The S&P E-Minis contract maintains a bullish tone and price traded higher yesterday. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on 6145.26, a Fibonacci projection. Initial support to watch lies at 5990.65, the 20-day EMA.

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  • RES 4: 6200.00 Round number resistance
  • RES 3: 6184.00 1.000 proj of the Nov 4 - 11 - 19 price swing   
  • RES 2: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing   
  • RES 1: 6107.25 High Dec 5      
  • PRICE: 6096.75 @ 14:27 GMT Dec 6
  • SUP 1: 6000.00 20-day EMA      
  • SUP 2: 5905.97 50-day EMA 
  • SUP 3: 5855.00 Low Nov 19  
  • SUP 4: 5814.75 Low Nov 6

The S&P E-Minis contract maintains a bullish tone and price traded higher yesterday. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on 6145.26, a Fibonacci projection. Initial support to watch lies at 5990.65, the 20-day EMA.