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Free AccessE-MINI S&P (Z1): 50-Day EMA Exposed
- RES 4: 4650.60 1.236 proj of Jul 19 - Aug 16 - 19 price swing
- RES 3: 4600.00 Round number resistance
- RES 2: 4591.25 1.000 proj of Jul 19 - Aug 16 - 19 price swing
- RES 1: 4519.75/39.50 High Sep 9 / High Sep 3 and the bull trigger
- PRICE: 4470.00 @ 06:28 BST Sep 14
- SUP 1: 4434.50 Low Sep 13
- SUP 2: 4406.70 50-day EMA
- SUP 3: 4339.75 Low Aug 19 and the bear trigger
- SUP 4: 4224.00 Low Jul 19 and key support
S&P E-minis traded lower Friday and again yesterday, marking an extension of the pullback from 4539.50. Some support has surfaced though. The contract has breached its 20-day EMA and this signals potential for a pullback towards the key 50-day EMA at 4406.70. The 50-day EMA still represents a key trend support parameter for bulls. A clear break would be bearish. On the upside, initial resistance is at 4519.75, Sep 9.
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