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E-MINI S&P TECHS: (U3) Approaching The Top Of A Bull Channel

EQUITY TECHS
  • RES 4: 4576.72 2.50 projection of the May 4 - 19 - 24 price swing
  • RES 3: 4556.71 2.382 projection of the May 4 - 19 - 24 price swing
  • RES 2: 4532.08 2.236 projection of the May 4 - 19 - 24 price swing
  • RES 1: 4494.20 Bull channel top drawn from the Oct 2022 low (cont)
  • PRICE: 4453.25 @ 06:57 BST Jun 19
  • SUP 1: 4381.75/4332.90 Low Jun 13 / 20-day EMA
  • SUP 2: 4250.38 50-day EMA
  • SUP 3: 4154.75 Low May 24
  • SUP 4: 4098.25 Low May 4 and a key support

S&P E-minis traded higher last week. This confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows, marking an extension of the bull cycle that started in October 2022. The focus is on 4494.20, the top of a bull channel drawn from the Oct 2022 low (cont). Initial support is at 4381.75, the Jun 13 low. A firmer support lies at 4332.90, the Jun 16 low.

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