E-MINI S&P (M2): Trend Needle Still Points South

• RES 4: 4663.50 High Jan 18
• RES 3: 4578.50 High Feb 9 and a key resistance
• RES 2: 4431.95-day EMA
• RES 1: 4335.19 20-day EMA
• PRICE: 4257.75 @ 06:52 GMT Mar 10
• SUP 1: 4094.25 Low Feb 24 and a bear trigger
• SUP 2: 4055.60 Low May 19 2021 (cont)
• SUP 3: 4029.25 Low May 13 2021 (cont)
• SUP 4: 3983.25 1.00 proj of the Jan 4 - 24 - Feb 9 price swing

E-Mini S&P futures traded higher Wednesday however despite these gains, the contract remains vulnerable. Key support lies at 4094.25, the Feb 24 low. A break of this level would confirm a resumption of the downtrend. The 20-day EMA, at 4335.19, represents an important near-term resistance. Price has recently failed to hold above this EMA. A clear break of it though would suggest scope for a stronger corrective bounce.