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E-MINI S&P TECHS: (H4) Bullish Trend Structure

EQUITY TECHS
  • RES 4: 5170.86 2.236 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 3: 5110.50 2.00 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 2: 5100.00 Round number resistance
  • RES 1: 5066.50 High Feb 12 and the bull trigger
  • PRICE: 5054.00 @ 08:44 GMT Feb 22
  • SUP 1: 4967.25 20-day EMA
  • SUP 2: 4866.000/4862.18 Low Jan 31 / 50-day EMA
  • SUP 3: 4702.00 Low Jan 5
  • SUP 4: 4594.00 Low Nov 30

The trend condition in S&P E-Minis is resolutely bullish, with the upside trigger at 5066.50 already under pressure. This erases the pullback off last week’s highs, confirming S/T weakness as corrective. Support to watch lies at 4967.25, the 20-day EMA. A clear break of this average would suggest potential for a deeper retracement, possibly towards the 4866.00 key support, the Jan 31 low. The trigger for a resumption of gains is 5066.50, the Feb 12 high.

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