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E-MINI S&P (H3): Trading Lower As The Bear Leg Extends

EQUITY TECHS
  • RES 4: 4168.50 High Feb 16
  • RES 3: 4096.00 High Feb 17
  • RES 2: 4038.61 20-day EMA
  • RES 1: 4020.29 50-day EMA
  • PRICE: 3937.75 @ 06:55 GMT Mar 2
  • SUP 1: 3901.75 Low Jan 19
  • SUP 2: 3787.62 76.4% retracement of the Dec 22 - Feb 2 bull cycle
  • SUP 3: 3819.00 Low Jan 6
  • SUP 4: 3788.50 Low Dec 22 and a key support

S&P E-Minis trend conditions remain bearish and the contract is trading lower today. Price remains below the 50-day EMA, at 4020.29 and sights are set on 3901.75, the Jan 19 low and 3887.62, the 76.4% retracement of the Dec 22 - Feb 2 bull cycle. Resistance to watch is at the 50-day EMA and 4038.61, the 20-day EMA. Note that a clear break of both the 50- and 20-day EMAs would signal a possible reversal.

Energy BulletsCommodities
Energy BulletsCommodities

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