March 28, 2024 13:54 GMT
E-MINI S&P TECHS: (M4) Trend Needle Points North
EQUITY TECHS
- RES 4: 5428.25 1.00 proj of the Oct 27 - Dec 28 - May 1 price swing
- RES 3: 5416.33 Bull channel top drawn from the Jan 17 low
- RES 2: 5400.00 Round number resistance
- RES 1: 5322.75 High Mar 21 and the bull trigger
- PRICE: 5309.00 @ 13:43 GMT Mar 28
- SUP 1: 5254.71 Bull channel base drawn from the Jan 17 low
- SUP 2: 5226.59 20-day EMA
- SUP 3: 5157.00 Low Mar 11
- SUP 4: 5104.90 50-day EMA
The trend condition in S&P E-Minis is unchanged and remains bullish. Recent gains reinforce this theme and the break of 5257.25, Mar 8 high, confirmed a resumption of the uptrend. Note that moving average studies remain in a bull-mode position reflecting positive market sentiment. Sights are on 5416.33, the top of a bull channel drawn from the Jan 17 low. Initial firm support is 5226.59, the 20-day EMA. A move lower is considered corrective.
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