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E-MINI S&P (H3): Approaching Key Resistance

EQUITY TECHS
  • RES 4: 4250.00 High Aug 26, 2022
  • RES 3: 4194.25 High Sep 13
  • RES 2: 4180.00 High Dec 13 and the bull trigger
  • RES 1: 4163.25 High Feb 1
  • PRICE: 4145.00 @ 06:44 GMT Feb 2
  • SUP 1: 4007.50/3969.70 Low Jan 31 / 50-day EMA
  • SUP 2: 3901.75 Low Jan 19
  • SUP 3: 3788.50 Low Dec 22 and a key support
  • SUP 4: 3735.00 Low Nov 3

S&P E-Minis traded higher Wednesday and in the process cleared recent highs to confirm a resumption of the current bull cycle that started Dec 22. The break exposes the key resistance and bull trigger at 4180.00, the Dec 13 high. Clearance of this level would confirm resumption of a broader uptrend and open 4250.00, the Aug 26 2022 high. Initial firm support has been defined at 4007.50, the Jan 31 low.

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