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E-MINI S&P (M3): Climbs Above The 50-Day EMA

EQUITY TECHS
  • RES 4: 4205.50 High Feb 16
  • RES 3: 4148.48 76.4% retracement of the Feb 2 - Mar 13 downleg
  • RES 2: 4119.50 High Mar 6
  • RES 1: 4089.39 61.8% retracement of the Feb 2 - Mar 13 downleg
  • PRICE: 4085.25 @ 14:27 BST Mar 30
  • SUP 1: 4005.39 20-day EMA
  • SUP 2: 3937.00/3897.25 Low Mar 24 / 20
  • SUP 3: 3839.25 Low Mar 13
  • SUP 4: 3822.00 Low Dec 22 and a key support

S&P E-Minis are trading higher. Price has pierced resistance at 4073.75, the Mar 22 high. The contract is also once again trading above the 50-day EMA - the average intersects at 4021.12. A clear break of 4073.75 would strengthen bullish conditions and signal scope for a climb towards 4119.50, the Mar 6 high. Key short-term support lies at 3937.00, the Mar 24 low. A break of this support would be bearish. Initial support lies at 4005.39, the 20-day EMA.

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