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

EQUITY TECHS
  • RES 4: 5012.80 1.618 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 3: 5000.00 Psychological round number
  • RES 2: 4982.62 1.50 proj of Nov 10 - Dec 1 - 7 price swing
  • RES 1: 4957.25 High Jan 30
  • PRICE: 4924.25 @ 14:27 GMT Jan 31
  • SUP 1: 4854.35/4753.05 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 fresh cycle highs, reinforce current conditions. Resistance at 4841.50, the Dec 28 high, has recently been cleared. This confirmed an extension of the price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode condition too, highlighting positive market sentiment. Sights are on 4982.62 next, a Fibonacci projection. Key support lies at 4753.05, the 50-day EMA.

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