January 10, 2023 14:44 GMT
E-MINI S&P (H3): Breaches The 50-Day EMA
EQUITY TECHS
- RES 4: 4180.00 High Dec 13 and the bull trigger
- RES 3: 4043.00 High Dec 15
- RES 2: 4000.00 Round number resistance
- RES 1: 3973.25 High Jan 9
- PRICE: 3909.50 @ 14:31 GMT Jan 10
- SUP 1: 3788.50/78.45 Low Dec 22 / 61.8% of Oct 13-Dec 13 uptrend
- SUP 2: 3735.00 Low Nov 3
- SUP 3: 3670.00 76.4% retracement of the Oct 13 - Dec 13 uptrend
- SUP 4: 3735.00 Low Oct 21
S&P E-Minis traded higher Monday but failed to hold on to the session high and closed at the day low. Key resistance at 3917.35, the 50-day EMA, has been breached. A continuation higher and a clear break of this EMA would suggest potential for a stronger recovery and highlight a possible reversal that would open 4000.00 next. On the downside, a break lower would confirm a resumption of the downtrend - the bear trigger is 3788.50, the Dec 22 low.
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