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E-MINI S&P (U2): Resumes Its Uptrend

EQUITY TECHS
  • RES 4: 4345.75 2.00 proj of the Jun 17 - 28 - Jul 14 price swing
  • RES 3: 4306.50 High May 4
  • RES 2: 4272.35 1.764 proj of the Jun 17 - 28 - Jul 14 price swing
  • RES 1: 4226.95 1.618 proj of the Jun 17 - 28 - Jul 14 price swing
  • PRICE: 4220.00 @ 06:55 BST Aug 11
  • SUP 1: 4080.50 Low Aug 2
  • SUP 2: 4008.43/3913.25 50-day EMA / Low Jul 26 and a key support
  • SUP 3: 3820.25 Low Jul 18
  • SUP 4: 3723.75 Low Jul 14

S&P E-Minis traded higher Wednesday and delivered a fresh trend high, confirming a resumption of the current uptrend. This reinforces short-term bullish conditions and continued gains would maintain the positive price sequence of higher highs and higher lows. The focus is on 4272.35 next, a Fibonacci projection. On the downside, initial trend support is at 4080.50, the Aug 2 low. The 50-day EMA intersects at 4016.17 - a key support.

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