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E-MINI S&P TECHS: (H4) Bullish Price Sequence

EQUITY TECHS
  • RES 4: 4952.45 1.382 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 3: 4915.11 1.236 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 2: 4900.00 Round number resistance
  • RES 1: 4890.50 Intraday high
  • PRICE: 487.00 @ 14:24 GMT Jan 22
  • SUP 1: 4785.75/46.25 20-day EMA / Low Jan 17
  • SUP 2: 4699.31 50-day EMA
  • SUP 3: 4594.00 Low Nov 30
  • SUP 4: 4550.75 Low Nov 16

The uptrend in S&P E-Minis remains intact and Friday’s gains confirmed a resumption of the trend. Resistance at 4841.50, the Dec 28 high has been cleared, marking an extension of the price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode condition, reinforcing the current bullish condition. Sights are on 4900.00 next. Key support lies at 4699.31, the 50-day EMA.

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