E-MINI S&P (U1): Approaching Key Near-Term Support

• RES 4: 4508.82 1.236 proj of Mar 25 - May 10 - 13 price swing
• RES 3: 4415.48 1.00 proj of Mar 25 - May 10 - 13 price swing
• RES 2: 4400.00 Round number resistance
• RES 1: 4384.50 High Jul 14 and the bull trigger
• PRICE: 4303.25 @ 07:05 BST Jul 19
• SUP 1: 4279.25 Low Jul 8
• SUP 2: 4235.33/4126.75 50-day EMA / Low Jun 21 and key support
• SUP 3: 4100.00 Round number support
• SUP 4: 4020.20 Low May 13 and key short-term support

S&P E-minis have started the week on a softer note and the contract is extending the pullback from 4384.50 Jul 14 high. Attention turns to the key near-term support at 4279.25, Jul 8 low. A break would signal a top and suggest scope for a deeper corrective pullback. This would open 4235.33, the 50-day EMA. On the upside, key resistance is at 4384.50. A break would instead confirm a resumption of the broader uptrend.