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Emini S&P Remains In Correction Phase

Published 01/03/2017, 02:40 AM
Updated 07/09/2023, 06:31 AM

Emini S&P Daily Technicals

Emini S&P holding below first resistance at 2242/41 keeps us in a correction phase to re-target 2236, 2232 & 2228. Further losses are possible but strong support at 2220/18 could end this phase. Look for the bull trend to resume & use this as a buying opportunity with stops below 2210. A break below 2210 however is a short term sell signal & initially targets 2200 but we could eventually see 2182/80 for an excellent buying opportunity this week.

First resistance at 2242/41 but above here targets 2246/47. Strong resistance at 2254/55 is still the main challenge for bulls. However above here is more positive & targets 2260/62 then 2268/69 before the 2273 March contract high. A break higher targets the all time high at 2278/79. On further gains look for 2291/92 & 2300/02.

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