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E-MINI S&P (M3): Bull Cycle Extends

EQUITY TECHS
  • RES 4: 4244.00 High Feb 2 and a bull trigger
  • RES 3: 4223.00 High Feb 14
  • RES 2: 4205.50 High Feb 16
  • RES 1: 420000 Round number resistance
  • PRICE: 4194.25 @ 13:06 BST Apr 18
  • SUP 1: 4148.00/4106.03 Low Apr 17 / 20-day EMA
  • SUP 2: 4069.41 50-day EMA
  • SUP 3: 3980.75 Low Mar 28
  • SUP 4: 3937.00 Low Mar 24

The trend outlook in S&P E-minis remains bullish and today’s gains reinforce current conditions. The contract has traded to a fresh cycle high and is approaching the 4200.00 handle. Sights are on 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Firm support lies at 4069.41, the 50-day EMA. Initial support to watch lies at 4106.03, the 20-day EMA.

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