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Continues Slide

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  • 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: 4350.75 @ 14:25 BST Jul 23
  • SUP 1: 4224.00 Low Jul 19 and key short-term support
  • SUP 2: 4187.58 61.8% retracement of the Jun 21 - Jul 14 rally
  • SUP 3: 4126.75 Low Jun 21
  • SUP 4: 4046.00 Low May 19

S&P E-minis started the week on a soft note but found support at Monday's low and have since recovered. Recent weakness resulted in a break of 4279.25, Jul 8 low. This did signal a S/T top and suggested scope for a deeper pullback. However, the contract found support at the 50-day EMA - the average represents an important trend support. Price is approaching the bull trigger at 4384.50, Jul 14 high. Key support is at 4224.00.