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EQUITY TECHS: E-MINI S&P: (U4) Bull Cycle Still In Play 

EQUITY TECHS
  • RES 4: 5821.25 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing  
  • RES 3: 5800.00 Round number resistance  
  • RES 2: 5721.25 High Jul 16 and Key resistance
  • RES 1: 5664.00 High Jul 18       
  • PRICE: 5641.25 @ 07:22 BST Aug 22
  • SUP 1: 5482.67 50-day EMA  
  • SUP 2: 5438.75/5319.50 Low Aug 14 / 9 
  • SUP 3: 5182.00 Low Aug 8 
  • SUP 4: 5120.00 Low Aug 5 and the bear trigger

S&P E-Minis are trading at their recent highs and a bullish theme remains intact. Price has cleared resistance at 2600.75, the Aug 1 high and this signals scope for an extension towards key resistance and the bull trigger at 5721.25, the Jul 16 high. A break would resume the primary uptrend. On the downside, support to watch lies at 5482.67, the 50-day EMA. A clear break of it is required to instead highlight a potential bearish threat.

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