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E-MINI S&P (H2): Trades Above 4800.00

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: 4808.00 Intraday high
  • PRICE: 4806.25 @ 14:38 GMT Jan 4
  • SUP 1: 4747.50 Low Jan 3
  • SUP 2: 4704.04 20-day EMA
  • SUP 3: 4637.65 Low Dec 20
  • SUP 4: 4520.25 76.4% retracement of the Oct 1 - Nov 22 rally

S&P E-minis printed a fresh all-time high again today and the contract has traded above the 4800.00 handle. Trend conditions remain bullish and the break higher confirms a resumption of the uptrend, paving the way for a climb towards 4854.19, a Fibonacci projection. On the downside, initial support is seen at 4745.50, Jan 3 low. The 50-day EMA at 4634.63 remains a key pivot support parameter. A break of this EMA would threaten the trend.

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