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E-MINI S&P (H3):  Trades Through The 50-Day EMA

EQUITY TECHS
  • RES 4: 4194.25 High Sep 13
  • RES 3: 4180.00 High Dec 13 and the bull trigger
  • RES 2: 4090.75 High Dec 14
  • RES 1: 4035.25 High Jan 18
  • PRICE: 3917.50 @ 14:26 GMT Jan 19
  • SUP 1: 3906.75/3891.50 50-day EMA / Low Jan 10
  • SUP 2: 3788.50/78.45 Low Dec 22 / 61.8% of Oct 13-Dec 13 uptrend
  • SUP 3: 3735.00 Low Nov 3
  • SUP 4: 3670.00 76.4% retracement of the Oct 13 - Dec 13 uptrend

S&P E-Minis traded lower Wednesday and a key short-term resistance has been defined at 4035.25, the Jan 17 high. Attention is on support at 3931.73, the 50-day EMA. This average has been breached and a continuation lower would highlight a potential bearish reversal and expose support at 3891.50., the Jan 10 low. On the upside, price needs to clear 4035.25 to cancel any developing bearish threat and confirm a resumption of recent bullish activity.

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