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E-MINI S&P (H2): Under Pressure

EQUITY TECHS
  • RES 4: 4854.19 0.764 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 3: 4808.25 High Jan 4 and the bull trigger
  • RES 2: 4739.50/52.67 High Jan 12 / 76.4% of the Jan 4 - 10 sell-off
  • RES 1: 4671.75 High Jan 18
  • PRICE: 4645.75 @ 06:52 GMT Jan 19
  • SUP 1: 4520.25 Low Dec 20 and a key support
  • SUP 2: 4485.75 Low Dec 3
  • SUP 3: 4464.95 61.8% retracement of the Oct 2021 - Jan rally
  • SUP 4: 4420.00 Low Oct 15, 2021

S&P E-minis are under pressure. The contract is again below the 50-day EMA and has cleared key S/T support at 4572.75, Jan 10 low. The break of this level highlights a clear bearish threat and exposes support at 4520.25, Dec 20 low and 4485.75, the Dec 3 low. The latter is an important bear trigger. On the upside, watch resistance at 4739.50, Jan 12 high. A break is needed to refocus attention on the key resistance and bull trigger at 4808.25.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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