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E-MINI S&P (H2): 50-Day EMA Marks Support

EQUITY TECHS
  • RES 4: 4968.50 1.00 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 3: 4900.00 Round number resistance
  • RES 2: 4854.19 0.764 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 1: 4808.25 High Jan 4 and the bull trigger
  • PRICE: 4680.75 @ 14:14 GMT Jan 7
  • SUP 1: 4647.00 50-day EMA
  • SUP 2: 4565.75 Low Dec 21
  • SUP 3: 4520.25 Low Dec 20 and a key support
  • SUP 4: 4485.75 Low Dec 3

S&P E-minis remain vulnerable near-term following a reversal lower this week from levels just above 4800.00. Price has traded below the 20-day EMA and attention is on the 50-day EMA that intersects at 4647.00 today. This average is regarded as a key pivot chart point and a clear break of it would signal scope for a deeper pullback. For now, a move lower is considered corrective. The bull trigger is unchanged at 4808.25.

Energy BulletsCommodities
Energy BulletsCommodities

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