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E-MINI S&P TECHS: (M4) Fresh Cycle Highs

EQUITY TECHS
  • RES 4: 5428.25 1.00 proj of the Oct 27 - Dec 28 - May 1 price swing
  • RES 3: 5400.00 Round number resistance
  • RES 2: 5370.81 Bull channel top drawn from the Jan 17 low
  • RES 1: 5321.50 Intraday high
  • PRICE: 5318.50 @ 13:42 GMT Mar 21
  • SUP 1: 5209.19 Bull channel base drawn from the Jan 17 low
  • SUP 2: 5185.88 20-day EMA
  • SUP 3: 5073.80 50-day EMA
  • SUP 4: 5018.00 Low Feb 21

The trend condition in S&P E-Minis remains bullish and this week’s extension reinforces this theme. The break of 5257.25, Mar 8 high, confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. MA studies are in a bull-mode position reflecting positive market sentiment. Sights are on 5370.81, the top of a bull channel drawn from the Jan 17 low. Initial firm support is at 5185.88, the 20-day EMA.

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  • RES 4: 5428.25 1.00 proj of the Oct 27 - Dec 28 - May 1 price swing
  • RES 3: 5400.00 Round number resistance
  • RES 2: 5370.81 Bull channel top drawn from the Jan 17 low
  • RES 1: 5321.50 Intraday high
  • PRICE: 5318.50 @ 13:42 GMT Mar 21
  • SUP 1: 5209.19 Bull channel base drawn from the Jan 17 low
  • SUP 2: 5185.88 20-day EMA
  • SUP 3: 5073.80 50-day EMA
  • SUP 4: 5018.00 Low Feb 21

The trend condition in S&P E-Minis remains bullish and this week’s extension reinforces this theme. The break of 5257.25, Mar 8 high, confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. MA studies are in a bull-mode position reflecting positive market sentiment. Sights are on 5370.81, the top of a bull channel drawn from the Jan 17 low. Initial firm support is at 5185.88, the 20-day EMA.