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E-MINI S&P TECHS: (Z3) Trendline Resistance Remains Exposed

EQUITY TECHS
  • RES 4: 4566.00 High Sep 15
  • RES 3: 4508.00 High Sep 20
  • RES 2: 4435.50 Trendline resistance drawn from the Jul 27 high
  • RES 1: 4432.12 High Oct 12
  • PRICE: 4361.25 @ 10:36 GMT Nov 10
  • SUP 1: 4257.75/4122.25 Low Nov 3 / Low Oct 27 and the bear trigger
  • SUP 2: 4100.00 Round number support 4124.19
  • SUP 3: 4090.35 1.764 proj of the Jul 27 - Aug 18 - Sep 1 price swing
  • SUP 4: 4049.00 Low Mar 28

S&P e-minis maintain a firmer short-term tone despite today’s pullback - a pullback is for now considered corrective. Price has recently cleared the 20- and 50-day EMAs. The break of the 50-day average - a key short-term pivot level - has strengthened bullish conditions. Sights are on 4430.50, the Oct 12 high and 4432.12, trendline resistance drawn from the Jul 27 high. Key support and the bear trigger is at 4122.25, the Oct 27 low.

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