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E-MINI S&P (U2): Trades Below The Bear Trigger

EQUITY TECHS
  • RES 4: 4396.75 High Apr 22
  • RES 3: 4308.50 High Apr 28
  • RES 2: 4161.21/4204.75 50-day EMA / High May 31
  • RES 1: 4071.26 20-day EMA
  • PRICE: 3838.50@ 06:59 BST June 13
  • SUP 1: 3798.25 Intraday low
  • SUP 2: 3794.75 0.50 proj of the Mar 29 - May 20 - 31 price swing
  • SUP 3: 3720.50 Low Mar 4 2021 (cont)
  • SUP 4: 3697.99 0.618 proj of the Mar 29 - May 20 - 31 price swing

S&P E-Minis have started the week on a clear bearish note. Today’s sell-off has resulted in a print below 3810.00, the May 20 low and bear trigger. A clear break of this support would confirm a resumption of the primary downtrend and open 3697.99, 0.618 projection of the Mar 29 - May 20 - 31 price swing. On the upside, initial resistance is seen at 4071.26, the 20-day EMA.

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