E-MINI S&P (U2): Recovery Extends, Nears Resistance

• RES 4: 4308.50 High Apr 28
• RES 3: 4204.75 High May 31 and a key resistance
• RES 2: 4017.94 38.2% Mar - Jun Downleg
• RES 1: 4016.25 High Jul 22
• PRICE: 4002.00 @ 15:16 BST Jul 22
• SUP 1: 3723.75/3639.00 Low Jul 14 / Low Jun 17 and a 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 extended the recovery into the Thursday close, topping 4004.75 in the process and nearing first key resistance at 4017.94. The moves mark a clear break of the 55-day EMA and this week’s strength narrows the gap with 4204.75, the May 31 high. On the downside, a resumption of weakness and a break of 3923.75 low, would instead open key support at 3639.00, Jun 17 low.