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E-MINI S&P (H3): Hits February Pullback Low

EQUITY TECHS
  • RES 4: 4361.00 High Aug 16
  • RES 3: 4300.00 Round number resistance
  • RES 2: 4250.00 High Aug 26, 2022
  • RES 1: 4208.50 High Feb 2 and the bull trigger
  • PRICE: 4009.25 @ 08:12 GMT Feb 24
  • SUP 1: 3974.25 Low Feb 24
  • SUP 2: 3954.84 3.0% 10-dma envelope
  • SUP 3: 3901.75 Low Jan 19
  • SUP 4: 3788.50 Low Dec 22 and a key support

Further slippage Wednesday put the S&P E-Minis to fresh February lows, with weakness extending through the close. This puts prices below first support at the 50-day EMA at 4031.50 and tilts the near-term view lower. 3901.75 marks next support, the Jan 19 low, although vol band support at 3954.8 could slow any decline. For the outlook to improve, bulls look for a close above the mid-week high at 4034.25.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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