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E-MINI S&P (M3): Prices Remain Below Resistance At The 50-Day EMA

EQUITY TECHS
Homepagemarkets-real-timeBulletMarketsFixed Income NewsForeign Exchange News
  • RES 4: 4244.00 High Feb 2 and key resistance
  • RES 3: 4200.00 Round number resistance
  • RES 2: 4119.50 High Mar 6
  • RES 1: 4030.01 50-day EMA
  • PRICE: 3996.25 @ 06:52 GMT Mar 17
  • SUP 1: 3839.25 Low Mar 13
  • SUP 2: 3822.00 Low Dec 22 and a key support
  • SUP 3: 3778.00 Low Nov 3
  • SUP 4: 3724.86 76.4% retracement of the Oct 13 - Feb 2 bull cycle

The trend condition in S&P E-Minis remains bearish and recent short-term gains are considered corrective. Price recently cleared a key short-term support at 3960.75, Mar 2 low to confirm a resumption of the bear cycle that has been in place since Feb 2. The move lower signals scope for an extension towards 3822.00 next, the Dec 22 low. Initial firm resistance is seen at 4030.01, the 50-day EMA.

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  • RES 4: 4244.00 High Feb 2 and key resistance
  • RES 3: 4200.00 Round number resistance
  • RES 2: 4119.50 High Mar 6
  • RES 1: 4030.01 50-day EMA
  • PRICE: 3996.25 @ 06:52 GMT Mar 17
  • SUP 1: 3839.25 Low Mar 13
  • SUP 2: 3822.00 Low Dec 22 and a key support
  • SUP 3: 3778.00 Low Nov 3
  • SUP 4: 3724.86 76.4% retracement of the Oct 13 - Feb 2 bull cycle

The trend condition in S&P E-Minis remains bearish and recent short-term gains are considered corrective. Price recently cleared a key short-term support at 3960.75, Mar 2 low to confirm a resumption of the bear cycle that has been in place since Feb 2. The move lower signals scope for an extension towards 3822.00 next, the Dec 22 low. Initial firm resistance is seen at 4030.01, the 50-day EMA.