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

  • 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: 4801.50 @ 14:34 GMT Jan 16
  • SUP 1: 4702.00 Low Jan 05
  • SUP 2: 4690.70 2.0% 10-dma Envelope
  • SUP 3: 4679.50 50-day EMA
  • SUP 4: 4594.00 Low Nov 30

S&P E-Minis continue to trade above the Jan 5 low. Key resistance and the bull trigger is unchanged at 4841.50, the Dec 28 high. A break of this level would resume the uptrend and open 4854.75, a Fibonacci projection. Support at the 20-day EMA of 4770.92 has recently been pierced. A clear break of this average would strengthen a short-term bearish threat and open the 50-day EMA, at 4679.50.

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