E-MINI S&P (H2): Monitoring The 20-Day EMA

• RES 4: 4671.75 High Jan 18
• RES 3: 4586.00 High Feb 2 and a key resistance
• RES 2: 4478.43 50-day EMA
• RES 1: 4396.73/ 99.25 20-day EMA / High Mar 2
• PRICE: 4391.50 @ 06:59 GMT Mar 3
• SUP 1: 4101.75 Low Feb 24 and the bear trigger
• SUP 2: 4055.60 Low May 19 2021 (cont)
• SUP 3: 4029.25 Low May 13 2021 (cont)
• SUP 4: 3990.50 0.764 proj of the Jan 4 - 24 - Feb 2 price swing

E-Mini S&P futures have found resistance this week at the 20-day EMA that today intersects at 4396.73. This average represents an important intraday resistance. Recent gains are likely part of a corrective cycle that is allowing a recent oversold condition to unwind. A reversal lower would signal a resumption of the downtrend and refocus attention on 4101.75, the Feb 24 low and bear trigger. A breach of the 20-day EMA would expose 4478.43.