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E-MINI S&P TECHS: (M3) Strong Recovery

EQUITY TECHS
  • RES 4: 4223.00 High Feb 14
  • RES 3: 4205.50 High Feb 16
  • RES 2: 4198.25 High Apr 18 and key resistance
  • RES 1: 4166.50 High Ar 27
  • PRICE: 4149.25 @ 05:50 BST Apr 28
  • SUP 1: 4068.75 Low Apr 26
  • SUP 2: 4061.11 38.2% retracement of the Mar 13 - Apr 18 bull leg
  • SUP 3: 4052.50 Low Mar 30
  • SUP 4: 4018.75 50.0% retracement of the Mar 13 - Apr 18 bull leg

S&P E-minis rallied Thursday to erase the sell-off earlier this week. A continuation higher would expose key resistance and the bull trigger at 4198.25, the Apr 18 high. Clearance of this level would confirm a resumption of the uptrend that started Mar 13. On the downside, key short-term support has been defined at 4068.75, the Apr 26 low. A move below this level would highlight a short-term bearish reversal instead.

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