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E-MINI S&P TECHS: (M4) Trend Needle Points North

EQUITY TECHS
  • RES 4: 5321.43 3.0% Bollinger Band
  • RES 3: 5300.00 Round number resistance
  • RES 2: 5291.89 2.0% 10-dma envelope
  • RES 1: 5257.25 High Mar 8
  • PRICE: 5246.50 @ 07:15 GMT Mar 13
  • SUP 1: 5147.25 20-day EMA
  • SUP 2: 5031.12 50-day EMA
  • SUP 3: 4994.25 Low Feb 13
  • SUP 4: 4921.00 Low Jan 31

The trend condition in S&P E-Minis remains bullish and the latest pullback is considered corrective. Last week’s fresh highs reinforce current conditions. Note that price action continues to highlight the fact that corrections remain shallow. This is an important bullish signal highlighting positive market sentiment. Support to watch is 5147.25 the 20-day EMA. A clear break of this average would open 5031.12, the 50-day EMA. Sights are on 5300.00 next.

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