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E-MINI S&P TECHS: (H4) Bulls Remain In The Driver’s Seat

EQUITY TECHS
  • RES 4: 5000.00 Psychological round number
  • RES 3: 4982.62 1.50 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 2: 4952.45 1.382 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 1: 4933.25 High Jan 24
  • PRICE: 4902.50 @ 07:19 GMT Jan 26
  • SUP 1: 4813.28/4721.08 20- and 50-day EMA values
  • SUP 2: 4702.00 Low Jan 5
  • SUP 3: 4594.00 Low Nov 30
  • SUP 4: 4550.75 Low Nov 16

The uptrend in S&P E-Minis remains intact and this week’s move higher has reinforced current conditions. Resistance at 4841.50, the Dec 28 high has recently been cleared, confirming an extension of the price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode condition, highlighting positive market sentiment. Sights are on 4952.45 next, a Fibonacci projection. Key support lies at 4729.00, the 50-day EMA.

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