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E-MINI S&P TECHS: (U3) Heading North

EQUITY TECHS
  • RES 4: 4452.42 1.764 projection of the May 4 - 19 - 24 price swing
  • RES 3: 4427.79 1.618 projection of the May 4 - 19 - 24 price swing
  • RES 2: 4400.00 Round number resistance
  • RES 1: 4369.50 High Jun 9
  • PRICE: 4357.75 @ 14:53 BST Jun 12
  • SUP 1: 4267.69 20-day EMA
  • SUP 2: 4210.03 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 Friday and the contract has cleared its recent highs. 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 the 4400.00 handle next. The 50-day EMA, at 4210.03 marks a key support. A break would signal a reversal. Initial firm support is at 4267.69, the 20-day EMA.

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