January 27, 2023 14:43 GMT
E-MINI S&P (H3): Bull Cycle Extends
EQUITY TECHS
- RES 4: 4194.25 High Sep 13
- RES 3: 4180.00 High Dec 13 and the bull trigger
- RES 2: 4090.75 High Dec 14
- RES 1: 4077.00 High Jan 26
- PRICE: 4066.50 @ 14:32 GMT Jan 27
- SUP 1: 3949.56 50-day EMA
- SUP 2: 3901.75/3891.50 Low Jan 19 / Low Jan 10
- SUP 3: 3788.50/78.45 Low Dec 22 / 61.8% of Oct 13-Dec 13 uptrend
- SUP 4: 3735.00 Low Nov 3
S&P E-Minis traded higher Thursday and confirmed a resumption of the current uptrend. The breach of resistance paves the way for strength towards 4090.75, the Dec 14 high and leaves the 4100.00 handle exposed. Further out, an extension higher would open 4180.00, the Dec 13 high and a bull trigger. Initial firm support has been defined at 3949.56, the 50-day EMA. A move below the average would be seen as a bearish development.
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