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E-MINI S&P (M3): Trades Through The 50-Day EMA

EQUITY TECHS
  • RES 4: 4148.48 76.4% retracement of the Feb 2 - Mar 13 downleg
  • RES 3: 4119.50 High Mar 64
  • RES 2: 4089.39 61.8% retracement of the Feb 2 - Mar 13 downleg
  • RES 1: 4057.50 High Mar 9
  • PRICE: 4036.75 @ 13:28 GMT Mar 22
  • SUP 1: 3981.75 Low Mar 21
  • SUP 2: 3897.25/3839.25 Low Mar 20 / 13
  • SUP 3: 3822.00 Low Dec 22 and a key support
  • SUP 4: 3778.00 Low Nov 3

S&P E-Minis maintains a firmer tone with the recovery from 3839.25, Mar 13 low, intact - for now. Key short-term resistance to watch is the 50-day EMA at 4025.43. The average was breached yesterday and a clear break would strengthen a short-term bullish theme and signal scope for a climb towards 4119.50, the Mar 6 high. A failure to hold on to recent gains would refocus attention on key support at 3839.25, the Mar 13 low.

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