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Free AccessE-MINI S&P (Z1): Corrective Pullback
- 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: 4539.50 High Sep 3 and the bull trigger
- PRICE: 4494.75 @ 06:54 BST Sep 10
- SUP 1: 4473.93 20-day EMA
- SUP 2: 4402.73 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 remain below recent highs. The move lower this week is considered corrective though. A bull trend dominates and recent gains to fresh all-time highs confirmed a resumption of the uptrend. Furthermore, the contract's current bull phase from Aug 19 means the 50-day EMA continues to provide support and this reinforces bullish conditions. A clear break of the 50-day EMA is still required to signal a stronger short-term reversal.
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Why MNI
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