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E-MINI S&P (H2): Approaching The All-Time High

EQUITY TECHS
  • RES 4: 4854.19 0.764 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 1: 4800.00 Round number resistance
  • RES 2: 4783.78 0.618 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 1: 4735.00 High Nov 22 and the bull trigger
  • PRICE: 4719.00 @ 06:58 GMT Dec 16
  • SUP 1: 4586.92 50-day EMA
  • SUP 2: 4485.75 Low Dec 3 and the bear trigger
  • SUP 3: 4493.88 61.8% retracement of the Oct 1 - Nov 22 rally
  • SUP 4: 4436.97 76.4% retracement of the Oct 1 - Nov 22 rally

S&P E-minis rallied yesterday and have started today’s session on a firmer note. Attention is once again on key resistance and the all-time high of 4735.00, the Nov 22 high. The contract has remained above the 50-day EMA, at 4586.92, reinforcing the current bullish theme. A break of 4735.00 would confirm a resumption of the uptrend and open the 4800.00 handle. A break of the 50-day EMA is required to alter the picture.

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