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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • RES 4: 4783.40 1.764 proj of Jul 19 - Aug 16 - 19 price swing
  • RES 1: 4740.50/46.68 High Nov 22 / 1.618 of Jul 19-Aug 16-19 swing
  • RES 2: 4669.75/4717.00 High Nov 29 / High Nov 26
  • RES 1: 4612.20 20-day EMA
  • PRICE: 4566.00 @ 14:30 GMT Dec 6
  • SUP 1: 4492.00 Low Dec 3
  • SUP 2: 4443.55 61.8% retracement of the Oct 1 - Nov 22 rally
  • SUP 3: 4373.40 76.4% retracement of the Oct 1 - Nov 22 rally
  • SUP 4: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger

S&P E-minis cleared the key 50-day EMA on Dec 1 and Friday attempted a resumption of the current downtrend. An ability to remain below the 50-day EMA would strengthen bearish conditions and looking ahead, a bearish cross of the 20-day EMA below the 50-day EMA (still a long way off) would reinforce bearish conditions. A resumption of weakness would open 4443.55 next, a retracement level. Initial firm resistance is at 4669.75.