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E-MINI S&P (Z1): Still Vulnerable

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: 4405.51/4472.00 50-day EMA / High Sep 27
  • PRICE: 4377.25 @ 06:56 BST Sep 30
  • SUP 1: 4334.75/4293.75 Low Sep 28 / Low Sep 20 and bear trigger
  • 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 remain below recent highs following Tuesday reversal lower. The contract is back below the 50-day EMA - the average intersects at 4407.78 today. A deeper sell-off would highlight a bearish threat and the risk of a pullback towards the key support at 4293.75, Sep 20 low. Price needs to break above 4472.00, Sep 27 high to reinstate a recent bullish theme. This would expose the bull trigger at 4359.50, the Sep 3 high.

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