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EQUITY TECHS: E-MINI S&P: (Z4) Bulls Remain In The Driver’s Seat

EQUITY TECHS
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  • RES 4: 5900.00 Round number resistance 
  • RES 3: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing 
  • RES 2: 5854.15 2.0% Upper Bollinger Band
  • RES 1: 5846.50 High Oct 09
  • PRICE: 5828.25 @ 07:32 BST Oct 11
  • SUP 1: 5759.36/5724.00 20-day EMA / Low Oct 2      
  • SUP 2: 5686.59 50-day EMA  
  • SUP 3: 5500.00 Round number support  
  • SUP 4: 5451.25 Low Sep 6 and a bear trigger

A bull cycle in S&P E-Minis remains intact and the latest shallow pullback still appears to be a correction. Price is trading closer to its recent highs. MA studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a Fibonacci projection, and 5900.00 further out. Initial support to watch is 5759.36, the 20-day EMA. It has been pierced. Key support lies at 5686.59 the 50-day EMA.       

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  • RES 4: 5900.00 Round number resistance 
  • RES 3: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing 
  • RES 2: 5854.15 2.0% Upper Bollinger Band
  • RES 1: 5846.50 High Oct 09
  • PRICE: 5828.25 @ 07:32 BST Oct 11
  • SUP 1: 5759.36/5724.00 20-day EMA / Low Oct 2      
  • SUP 2: 5686.59 50-day EMA  
  • SUP 3: 5500.00 Round number support  
  • SUP 4: 5451.25 Low Sep 6 and a bear trigger

A bull cycle in S&P E-Minis remains intact and the latest shallow pullback still appears to be a correction. Price is trading closer to its recent highs. MA studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a Fibonacci projection, and 5900.00 further out. Initial support to watch is 5759.36, the 20-day EMA. It has been pierced. Key support lies at 5686.59 the 50-day EMA.