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E-MINI S&P (Z1): Extends The Bounce From Tuesday's Low

EQUITY TECHS
  • RES 4: 4842.75 2.00 proj of Jul 19 - Aug 16 - 19 price swing
  • RES 1: 4800.00 Round number resistance
  • RES 2: 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
  • PRICE: 4716.25 @ 06:55 GMT Nov 25
  • SUP 1: 4649.00/4625.25 Low Nov 23 / Low Nov 10
  • SUP 2: 4562.53/4543.75 50-day EMA / Low Oct 27
  • SUP 3: 4472.00 High Sep 27
  • SUP 4: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger

S&P E-minis are trading higher today, extending the recovery from Tuesday's 4649.00 low. This level also represents a short-term support ahead of the key 4625.25 level, Nov 10 low. Attention remains on Monday's reversal lower. The price pattern on this day is a bearish shooting star. A breach of 4625.25 though is required to confirm a top. Clearance of 4740.50, Nov 22 high would negate the pattern and instead confirm a resumption of the uptrend.

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