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E-MINI S&P (Z1): In A Range But Remains Bearish

EQUITY TECHS
  • RES 4: 4539.50 High Sep 3 and the bull trigger
  • RES 1: 4519.75 High Sep 9
  • RES 3: 4481.50 76.4% retracement of the Sep 3 - 20 downleg
  • RES 1: 4392.41/4472.00 50-day EMA / High Sep 27
  • PRICE: 4309.25 @ 14:33 BST Oct 6
  • SUP 1: 4260.00 Low Oct 1
  • SUP 2: 4243.50 Low Jul 20
  • SUP 3: 4214.50 Low Jul 19 and a key support
  • SUP 4: 4117.00 Low Jun 21

S&P E-minis are lower today but remain inside the recent range. A bearish theme remains intact. This follows last Friday's break of 4293.75, Sep 20 low. The break strengthens a bearish case and confirms a resumption of the bear cycle from Sep 3. It also establishes a price sequence of lower lows and lower highs, reinforcing bearish conditions. The focus is on 4214.50, Jul 19 low. The 50-day EMA at 4392.41 is resistance.

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