EQUITY TECHS: E-MINI S&P: (M5) Bull Cycle Intact
- RES 4: 6080.75 High Feb 26
- RES 3: 6057.00 High Mar 3
- RES 2: 6000.00 Round number resistance
- RES 1: 5993.50 High May 20
- PRICE: 5912.25 @ 15:35 BST May 21
- SUP 1: 5837.25/5703.54 High Mar 25 / 50-day EMA
- SUP 2: 5455.50 Low Apr 30
- SUP 3: 5355.25 Low Apr 24
- SUP 4: 5127.25 Low Apr 21 and a key support
A bullish trend condition in S&P E-Minis remains intact and the latest pullback is considered corrective. An important resistance at 5837.25, the Mar 25 high and a bull trigger, has recently been cleared. This has strengthened the current bullish theme, and paves the way for a continuation near-term. Sights are on the 6000.00 handle next. Initial firm support to watch lies at 5703.54, the 50-day EMA.
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