E-MINI S&P (M2): Has Cleared The 50-Day EMA

• RES 4: 4730.50 High Jan 1
• RES 3: 4663.50 High Jan 18
• RES 2: 4578.50 High Feb 9 and a key resistance
• RES 1: 4465.75 High Mar 18
• PRICE: 4441.50 @ 07:01 GMT Mar 21
• SUP 1: 4323.83 20-day EMA
• SUP 2: 4129.50/4094.25 Low Mar 15 / Low Feb 24 and a bear trigger
• SUP 3: 4055.60 Low May 19 2021 (cont)
• SUP 4: 4029.25 Low May 13 2021 (cont)

The trend in the S&P E-Minis remains bearish, however, the contract traded higher last week and in the process cleared a number of important short-term resistance levels. The 20-day EMA and late last week, the 50-day EMA, have both been cleared. The breach of the latter average is an important short-term bullish development and an extension would open 4578.50, the Feb 9 high. Initial support is at 4323.83, the 20-day EMA.