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E-MINI S&P TECHS: (H4) Bull Cycle Extends

EQUITY TECHS
  • RES 4: 5110.50 2.00 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 3: 5100.00 Round number resistance
  • RES 2: 5050.14 1.764 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 1: 5020.00 High Feb 7
  • PRICE: 5014.75 @ 06:39 GMT Feb 8
  • SUP 1: 4902.99 20-day EMA
  • SUP 2: 4866.000/4796.82 Low Jan 31 / 50-day EMA values
  • SUP 3: 4702.00 Low Jan 5
  • SUP 4: 4594.00 Low Nov 30

The trend condition in S&P E-Minis is unchanged and remains bullish - yesterday’s gains reinforce current conditions. The contract has traded to a fresh cycle high, confirming a resumption of the uptrend. Recent corrections have been shallow - this also highlights a strong uptrend. The focus is on 5050.14, a Fibonacci projection. On the downside, initial key short-term support has been defined at 4866.00, the Jan 31 low.

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