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E-MINI S&P (U1): Testing The 50-Day EMA

EQUITY TECHS
  • RES 4: 4300.00 Round Number Resistance
  • RES 3: 4264.41 1.618 proj of Mar 25 - May 10 - 13 price swing
  • RES 2: 4258.25 High Jun 15
  • RES 1: 4220.00 High Jun 18
  • PRICE: 4137.75 @ 07:04 BST Jun 21
  • SUP 1: 4126.75 Intraday low
  • SUP 2: 4100.00 Round number support
  • SUP 3: 4020.20 Low May 13 and key short-term support
  • SUP 4: 3967.00 High Mar 18

The recent pullback in S&P E-minis suggests the contract has entered a corrective cycle. Price is testing the 50-day EMA at 4142.65. The EMA represents a key support level and a clear break of the average is required to signal potential for a deeper retracement. This would open 4100.00 and below. On the upside, key resistance has been defined at 4258.25, Jun 15 high and this level marks the bull trigger. Initial resistance is at 4220.00.

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