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E-MINI S&P TECHS: (U3) Testing Resistance At 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: 4493.75 Intraday high
  • PRICE: 4480.50 @ 14:40 BST Jun 16
  • SUP 1: 4381.75/4320.18 Low Jun 5 / 20-day EMA
  • SUP 2: 4241.84 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 are trading higher today. This once again 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 contract has tested 4491.19, the top of a bull channel drawn from the Oct 2022 low (cont). A clear break would open 4532.08, a Fibonacci projection. Initial support is at 4381.75, the Jun 5 high.

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