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E-MINI S&P TECHS: (H4) Bull Trigger Remains Exposed

EQUITY TECHS
  • RES 4: 4915.11 1.236 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 3: 4900.00 Round number resistance
  • RES 2: 4854.75 1.00 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 1: 4841.50 High Dec 28 and the bull trigger
  • PRICE: 4809.25 @ 06:53 GMT Jan 12
  • SUP 1: 4702.00 Low Jan 05
  • SUP 2: 4694.00 2.0% 10-dma Envelope
  • SUP 3: 4668.13 50-day EMA
  • SUP 4: 4594.00 Low Nov 30

S&P E-Minis remain above last Friday’s low and the contract has traded higher this week. Key resistance and the bull trigger is at 4841.50, the Dec 28 high. Clearance of this level would resume the uptrend and open 4854.75, a Fibonacci projection. Support at the 20-day EMA of 4766.12 has recently been pierced. A clear break of this average would strengthen a short-term bearish threat and open the 50-day EMA, at 4673.91.

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