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E-MINI S&P TECHS: (Z3) Northbound

EQUITY TECHS
  • RES 4: 4685.25 High Jul 27 and a bull trigger
  • RES 3: 4644.75 High Aug 2
  • RES 2: 4597.50 High Sep and a key resistance
  • RES 1: 4571.00 High Nov 20
  • PRICE: 4550.00 @ 14:33 GMT Nov 21
  • SUP 1: 4501.75/4415.80 Low Nov 16 / 20-day EMA
  • SUP 2: 4354.25 Low Nov 10
  • SUP 3: 4257.75 Low Nov 3
  • SUP 4: 4122.25 Low Oct 27 and the bear trigger

S&P e-minis traded higher Monday, starting the week on a bullish note and confirming an extension of the recovery that started Oct 27. The trend direction remains up. Recent gains have resulted in the break of a trendline drawn from the Jul 27 high. This reinforces bullish conditions and signals scope for a climb towards 4597.50, the Sep 1 high. On the downside, initial firm support is seen at 4415.80, the 20-day EMA.

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