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E-MINI S&P TECHS: (U3) Bullish And Sights Are on The Channel Top

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: 4497.21 Bull channel top drawn from the Oct 2022 low (cont)
  • PRICE: 4429.50 @ 13:08 BST Jun 21
  • SUP 1: 4381.75/4342.60 Low Jun 13 / 20-day EMA
  • SUP 2: 4257.39 50-day EMA
  • SUP 3: 4154.75 Low May 24
  • SUP 4: 4098.25 Low May 4 and a key support

A bull theme in S&P E-minis remains intact and this week’s pullback appears to be a correction. Last week’s gains confirmed a resumption of the uptrend, marking an extension of the bull cycle that started in October 2022. The focus is on 4497.21, 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 4342.60, the 20-day EMA.

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