October 21, 2024 13:43 GMT
EQUITY TECHS: E-MINI S&P: (Z4) Trend Needle Points North
EQUITY TECHS
- RES 4: 6012.75 1.00 projection of the Aug 5 - Sep 3 - 6 price swing
- RES 3: 6000.00 Psychological handle
- RES 2: 5961.00 1.00 projection of the Sep 6 - 17 - 18 price swing
- RES 1: 5927.25 High Oct 17
- PRICE: 5900.50 @ 14:32 BST Oct 21
- SUP 1: 5816.87/5729.25 20-and 50-day EMA values
- SUP 2: 5724.00 Low Oct 2
- SUP 3: 5675.25 Low Sep 18
- SUP 4: 5658.00 Low Sep 13
S&P E-Minis trend conditions are unchanged and bulls remain in the driver’s seat. Fresh cycle highs confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Sights are on 5961.00, a Fibonacci projection. Initial support to watch is 5816.87, the 20-day EMA.
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