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E-MINI S&P (H2): Strong Rebound Off Thursday’s Low

EQUITY TECHS
  • RES 4: 4586.00 High Feb 2
  • RES 3: 4491.21 50-day EMA
  • RES 2: 4415.92 20-day EMA
  • RES 1: 4345.50 High Feb 23
  • PRICE: 4260.75 @ 06:41 GMT Feb 25
  • SUP 1: 4101.75 Low Feb 24
  • SUP 2: 4055.60 Low May 19 2021 (cont)
  • SUP 3: 4029.25 Low May 13 2021 (cont)
  • SUP 4: 3990.50 0.764 proj of the Jan 4 - 24 - Feb 2 price swing

E-Mini S&P technical conditions remain bearish however price action rallied sharply higher from yesterday’s low of 4101.75. Short-term momentum conditions highlight a bullish divergence between price and momentum and this does suggest scope for some unwinding of recent weakness or at the very least, a period of consolidation. The next resistance is at 4345.50, the Feb 23 high. Thursday’s low of 4101.75 is the bear trigger.

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