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S&P E-Minis Arrive At The 50-Day EMA Pivot Resistance

  • S&P E-Minis have continued to climb as the contract extends the recovery from 3839.25, Mar 13 low.
  • Key short-term resistance to watch is the 50-day EMA which today intersects at 4025.01.
  • This EMA represents an important pivot level.
  • While price remains below the EMA, it is likely that gains are a correction ahead of a resumption of the downtrend.
  • A clear break of the average would change that and highlight a stronger bullish environment.
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