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E-MINI S&P (Z2): Trend Needle Points North

EQUITY TECHS
  • RES 4: 4175.00 High Sep 13 and a key resistance
  • RES 3: 4146.63 76.4% retracement of the Aug 16 - Oct 13 downleg
  • RES 2: 4100.00 Round number resistance
  • RES 1: 4023.44 61.8% retracement of the Aug 16 - Oct 13 downleg
  • PRICE: 3986.25 @ 14:32 GMT Nov 14
  • SUP 1: 3837.45 50-day EMA
  • SUP 2: 3750.00 Low Nov 9
  • SUP 3: 3704.25 Low Nov3 and key short-term support
  • SUP 4: 3641.50 Low Oct 21

S&P E-Minis remain bullish. The contract rallied sharply higher last week and in the process cleared resistance at 3928.00, Nov 1 high. The break strengthens a short-term bullish condition and price has established a sequence of higher highs and higher lows on the daily scale. This opens 4023.44 next, a Fibonacci retracement. On the downside, key short-term support has been defined at 3704.25, the Nov 3 low.

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