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E-MINI S&P TECHS: (H4) Trading Above Its Recent Lows

EQUITY TECHS
  • RES 4: 4915.11 1.236 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 3: 4900.00 Round number resistance
  • RES 2: 4854.75 1.00 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 1: 4841.50 High Dec 28 and the bull trigger
  • PRICE: 4786.75 @ 06:52 GMT Jan 10
  • SUP 1: 4702.00 Low Jan 05
  • SUP 2: 4694.47 2.0% 10-dma Envelope
  • SUP 3: 4661.92 50-day EMA
  • SUP 4: 4594.00 Low Nov 30

S&P E-Minis have recovered from last Friday’s low. Support at the 20-day EMA of 4754.67 has recently been pierced. A clear break of this average would strengthen a short-term bearish threat and open 4694.47, the lower band of a MA envelope. A move through this support would expose the 50-day EMA, at 4661.92. Key resistance and the bull trigger is at 4841.50, the Dec 28 high. Clearance of this level would resume the uptrend.

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