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E-MINI S&P (Z2): Uptrend Remains Intact

EQUITY TECHS
  • 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: 4104.75 Intraday high
  • PRICE: 4096.00 @ 06:59 GMT Dec 1
  • SUP 1: 3912.50/3897.59 Low Nov 17 / 50-day EMA values
  • SUP 2: 3750.00 Low Nov 9
  • SUP 3: 3704.25 Low Nov 3 and key short-term support
  • SUP 4: 3641.50 Low Oct 21

S&P E-Minis remain in an uptrend and Thursday’s gains reinforce a bullish theme. The rally resulted in a break of resistance at 4050.75, the Nov 15 high. This confirms a resumption of the uptrend and marks an extension of the price sequence of higher highs and higher lows. Sights are on 4146.63, a Fibonacci retracement. On the downside, key short-term support has been defined at 3912.50, the Nov 17 low.

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