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SP500 – Momentum Stretched Into Holidays

Key Highlights

• S&P 500 holds near recent highs
• Valuations remain elevated
• Holiday volume distorts signals
• Risk appetite still resilient

Market Overview
The S&P 500 trades near 6,855 after a late-week push higher. With participation thinning, price action reflects positioning more than conviction.

Technical Outlook (H4)

• Stochastic overbought
• Price above 20-period MA
• Momentum stretched

Key Levels

• Resistance: 6896.88; 6934.09
• Support: 6817.97; 6779.94

Fremora Takeaway
The trend remains positive, but upside looks vulnerable to consolidation. Holding above 6,818 keeps the bull structure intact into year-end.

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WTI – Technical Bounce Meets Heavy Supply Headwinds

Key Highlights

• WTI rebounds from oversold levels
• Oversupply narrative unchanged
• OPEC+ output weighs on outlook
• Holiday trading exaggerates swings

Market Overview
WTI trades near 56.83 following a short-covering bounce. Despite the recovery, fundamentals remain decisively bearish as global inventories continue to build.

Technical Outlook (H4)

• Stochastic overbought
• Price above 20-period MA
• Bounce losing momentum

Key Levels

• Resistance: 57.75; 58.81
• Support: 55.99; 54.94

Fremora Takeaway
WTI’s rebound looks corrective rather than structural. Unless prices reclaim 58.80, rallies are likely to fade back toward support.