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E-MINI S&P (U2): Extends This Week’s Retracement

  • RES 4: 4308.50 High Apr 28
  • RES 3: 4204.75 High May 31 and a key resistance
  • RES 2: 4020.77 50-day EMA
  • RES 1: 3950.00 High Jun 27
  • PRICE: 3779.25 @ 14:21 BST June 30
  • SUP 1: 3735.00/3639.00 Low Jun 23 / 17 and the bear trigger
  • SUP 2: 3578.27 0.618 proj of the Mar 29 - May 20 - 31 price swing
  • SUP 3: 3500.00 Round number support
  • SUP 4: 3384.75 0.764 proj of the Mar 29 - May 20 - 31 price swing

S&P E-Minis have continued to weaken today and extend this week’s bearish cycle and the pullback from Tuesday’s high of 3950.00. The next support lies at 3735.00, the Jun 23 low. A breach of this level would expose key support at 3639.00, the Jun 17 low. On the upside, a breach of resistance at 3950.00 is required to reinstate a bullish theme. This would open the 50-day EMA, currently at 4020.77.

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