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E-MINI S&P (H3): Support Remains Intact

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: 4088.50 @ 07:52 GMT Feb 10
  • SUP 1: 4069.52 20-day EMA
  • SUP 2: 4006.63 50-day EMA
  • SUP 3: 3901.75 Low Jan 19
  • SUP 4: 3788.50 Low Dec 22 and a key support

The S&P E-Minis trend condition is bullish and the latest pullback is considered corrective. Short-term support levels remain intact. Initial support lies at the 20-day EMA, at 4069.52. The more important level is at the 50-day EMA, at 4006.63. A resumption of gains would refocus attention on 4208.50, the Feb 2 high and bull trigger. A break would resume the uptrend. On the downside, a clear break of the 50-day EMA would alter the picture.

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