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E-MINI S&P TECHS: (H4) Fresh Trend High

EQUITY TECHS
  • RES 4: 4899.09 1.382 proj of Nov 10 - Dec 1 - 7 price swing (cont)
  • RES 3: 4862.08 1.236 proj of Nov 10 - Dec 1 - 7 price swing (cont)
  • RES 2: 4808.25 High Jan 4 2022 and major resistance
  • RES 1: 4802.25 High Dec 18
  • PRICE: 4794.00 @ 07:17 GMT Dec 19
  • SUP 1: 4696.75 Low Dec 13
  • SUP 2: 4659.25 20-day EMA
  • SUP 3: 4594.00 Low Nov 30
  • SUP 4: 4566.44 50-day EMA

A bullish theme in S&P e-minis remains intact and the contract traded higher Monday. The rally last week confirmed a resumption of the uptrend that started Oct 27. Note too that the contract has cleared resistance at 4738.50, the Jul 27 high, reinforcing current positive trend conditions. This signals scope for a climb towards 4808.25 next, Jan 4 2022 high. On the downside, initial firm support lies at 4659.25, the 20-day EMA.

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