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E-MINI S&P (M3): Trend Needle Points North

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: 4171.75 High Apr 4
  • PRICE: 4119.50 @ 14:24 BST Apr 5
  • SUP 1: 4078.00 Low Mar 31
  • SUP 2: 4036.58 50-day EMA
  • SUP 3: 3980.75 Low Mar 28
  • SUP 4: 3937.00 Low Mar 24

S&P E-minis maintains a bullish tone and pullbacks are considered corrective. Price has recently breached resistance at 4119.50, reinforcing bullish conditions. The move higher has also resulted in a break of 4148.48, 76.4% of the Feb 2 - Mar 13 downleg. This signals scope for an extension towards 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Firm support lies at 4036.58, the 50-day EMA.

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