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E-MINI S&P TECHS: (H4) Northbound

EQUITY TECHS
  • RES 4: 5231.98 3.0% Bollinger Band
  • RES 3: 5215.00 2.0% 10-dma envelope
  • RES 2: 5200.00 Round number resistance
  • RES 1: 5193.00 High Mar 8
  • PRICE: 5121.00 @ 07:21 GMT Mar 8
  • SUP 1: 5071.70 20-day EMA
  • SUP 2: 4958.24 50-day EMA
  • SUP 3: 4936.50 Low Feb 13
  • SUP 4: 4866.00 Low Jan 31 and key support

The trend condition in S&P E-Minis is bullish and last week’s fresh cycle high reinforces current conditions. Price action continues to highlight the fact that corrections are shallow - this is a bullish signal that highlights positive market sentiment. Support to watch is 5071.70 the 20-day EMA. A clear break of this average would signal potential for a deeper retracement towards 4958.24, the 50-day EMA. Sights are on 5200.00 next.

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