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E-MINI S&P (M2): Approaching Key Support

EQUITY TECHS
  • RES 4: 4631.00 High Mar 29 and key resistance
  • RES 3: 4588.75 High Apr 5
  • RES 2: 4509.00 High Apr 21 and a key short-term resistance
  • RES 1: 4303.50/4355.50 High Apr 26 / Low Apr 18
  • PRICE: 4182.00 @ 14:31 BST Apr 27
  • SUP 1: 4136.75 Low Apr 26
  • SUP 2: 4129.50 Low Mar 15 and a key support
  • SUP 3: 4094.25 Low Feb 24 and a bear trigger
  • SUP 4: 4063.24 1.618 proj of the Mar 29 - Apr 18 - 21 price swing

S&P E-Minis remain bearish. The contract traded lower again on Tuesday, reinforcing current bearish conditions. Fresh short-term lows confirm a resumption of the current downtrend and signal scope for a continuation of this theme. This has opened 4129.50, the Mar 15 low. Key short-term resistance has been defined at 4509.00, Apr 21 high. Initial resistance though is seen at yesterday’s high of 4303.50.

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