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E-MINI S&P (H3): Circling Below Highs

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  • RES 4: 4361.00 High Aug 16
  • RES 3: 4300.00 Round number resistance
  • RES 2: 4250.00 High Aug 26, 2022
  • RES 1: 4208.50 High Feb 2 and the bull trigger
  • PRICE: 4076.00 @ 15:52 GMT Feb 20
  • SUP 1: 4055.75 Low Feb 17
  • SUP 2: 4006.63 50-day EMA
  • SUP 3: 3901.75 Low Jan 19
  • SUP 4: 3788.50 Low Dec 22 and a key support

The S&P E-Minis trend condition is bullish and the latest pullback is considered corrective. The contract has pierced initial support at 4069.52, the 20-day EMA. Firmer support lies at the 50-day EMA, at 4006.63. A clear break of this average would signal scope for a deeper pullback and potentially highlight a reversal. Key resistance and the bull trigger intersect at 4208.50, the Feb 2 high. A breach would resume the uptrend.

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  • RES 4: 4361.00 High Aug 16
  • RES 3: 4300.00 Round number resistance
  • RES 2: 4250.00 High Aug 26, 2022
  • RES 1: 4208.50 High Feb 2 and the bull trigger
  • PRICE: 4076.00 @ 15:52 GMT Feb 20
  • SUP 1: 4055.75 Low Feb 17
  • SUP 2: 4006.63 50-day EMA
  • SUP 3: 3901.75 Low Jan 19
  • SUP 4: 3788.50 Low Dec 22 and a key support

The S&P E-Minis trend condition is bullish and the latest pullback is considered corrective. The contract has pierced initial support at 4069.52, the 20-day EMA. Firmer support lies at the 50-day EMA, at 4006.63. A clear break of this average would signal scope for a deeper pullback and potentially highlight a reversal. Key resistance and the bull trigger intersect at 4208.50, the Feb 2 high. A breach would resume the uptrend.