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E-MINI S&P (H2): Consolidation Likely A Pause In The Uptrend

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
  • PRICE: 4782.50@ 14:24 GMT Jan 6
  • SUP 1: 4747.50 Low Jan 3
  • SUP 2: 4711.67 20-day EMA
  • SUP 3: 4643.39 50-day EMA
  • SUP 4: 4520.25 Low Dec 20

S&P E-minis trend condition remains bullish and the contract traded above 4800.00 Tuesday. Despite not being able to hold onto levels above 4800.00, further gains are seen likely and the current consolidation represents a pause in the uptrend. The focus is on 4854.19, 0.764 projection of the Oct 1 - Nov 22 - Dec 3 price swing. The 50-day EMA at 4643.39 remains a key pivot support parameter. A break of this EMA would threaten the trend.

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