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E-MINI S&P (H3): Remains Vulnerable

EQUITY TECHS
  • RES 4: 4361.00 High Aug 16 and a key M/T resistance
  • RES 3: 4250.00 High Aug 26
  • RES 2: 4194.25 High Sep 13 and a key resistance
  • RES 1: 4043.00/4180.00 High Dec 15 / 13 and the bull trigger
  • PRICE: 3884.00 @ 06:51 GMT Dec 19
  • SUP 1: 3855.13 50.0% retracement of the Oct 13 - Dec 13 uptrend
  • SUP 2: 3800.00 Round number support
  • SUP 3: 3778.45 61.8% retracement of the Oct 13 - Dec 13 uptrend
  • SUP 4: 3735.00 Low Nov 3 and a key support

The S&P E-Minis appears vulnerable following last week’s sharp move lower. Thursday’s sell-off reinforced a bearish threat and note that this also highlights the importance of a shooting star candle formation on Dec 13 - a reversal signal. A continuation lower would open 3855.13, a Fibonacci retracement. Key resistance is unchanged at 4180.00, the Dec 13 high, where a break is required to resume the recent uptrend.

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