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E-MINI S&P (M2): Watching The 20-Day EMA

EQUITY TECHS
  • RES 4: 4663.50 High Jan 18
  • RES 3: 4578.50 High Feb 9 and a key resistance
  • RES 2: 4424.73-day EMA
  • RES 1: 4326.89 20-day EMA
  • PRICE: 4279.75 @ 14:25 GMT Mar 11
  • 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 remain vulnerable despite this week's gains. 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 4326.89, 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.

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