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E-MINI S&P (Z1): Trend Needle Still Points North

EQUITY TECHS
  • RES 4: 4800.00 Round number resistance
  • RES 1: 4783.40 1.764 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • RES 2: 4746.68 1.618 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • RES 1: 4717.00 1.50 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • PRICE: 4691.75 @ 14:45 GMT Nov 18
  • SUP 1: 4622.04 20-day EMA
  • SUP 2: 4543.75 Low Oct 27
  • SUP 3: 4533.70/ 4472.00 50-day EMA / High Sep 27
  • SUP 4: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger

The S&P E-minis outlook remains bullish and futures remain above recent lows. Another all-time high print on Nov 5 confirmed a resumption of the uptrend and the focus is on 4717.00 next, a Fibonacci projection. Trend signals such as moving average studies are in a bull mode set-up and corrections remain shallow, reinforcing current conditions. The 50-day EMA at 4533.70 continues to represent a key support handle.

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