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E-MINI S&P (Z2): Pullback Considered Corrective

  • RES 4: 4234.25 High Aug 26
  • RES 3: 4175.00 High Sep 13 and a key resistance
  • RES 2: 4146.63 76.4% retracement of the Aug 16 - Oct 13 downleg
  • RES 1: 4110.00 High Dec 1
  • PRICE: 4004.25 @ 14:32 GMT Dec 6
  • SUP 1: 3973.29 20-day EMA
  • SUP 2: 3915.10/3912.50 50-day EMA values / Low Nov 17
  • SUP 3: 3750.00 Low Nov 9
  • SUP 4: 3704.25 Low Nov 3 and key short-term support

S&P E-Minis S&P E-Minis have pulled back from last week’s high. The move lower is considered corrective - for now. The uptrend that started on Oct 13 remains intact and attention is on support at the 20-day EMA, which intersects at 3973.29. A break of this EMA would suggest potential for a deeper near-term retracement. The bull trigger, to resume recent bullish activity, is at 4110.00, the Dec 1 high.

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