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  • RES 4: 4600.00 Round number resistance
  • RES 3: 4591.25 1.000 proj of Jul 19 - Aug 16 - 19 price swing
  • RES 2: 4519.75/39.50 High Sep 9 / High Sep 3 and the bull trigger
  • RES 1: 4478.50 High Sep 16 and key near-term resistance
  • PRICE: 4388.75@ 05:55 BST Sep 20
  • SUP 1: 4362.75 Low Aug 20
  • SUP 2: 4339.75 Low Aug 19 and a bear trigger
  • SUP 3: 4299.75 Low Jul 21
  • SUP 4: 4243.50 Low Jul 20

S&P E-minis have started this week on a softer note as bearish pressure resumes. Today's key technical development has been the break below the 50-day EMA at 4412.88. This average is an important support. A decisive break would suggest scope for a deeper pullback near-term. Continued weakness would open 4339.75, the Aug 19 low. On the upside, a climb above 4478.50, Sep 16 high is required to ease current bearish pressure.