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E-MINI S&P (Z1): Monitoring The 50-Day EMA

EQUITY TECHS
  • RES 4: 4591.25 1.00 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • RES 1: 4539.50 High Sep 3 and the bull trigger
  • RES 3: 4519.75 High Sep 9
  • RES 1: 4421.50/4472.00 High Oct 7 / High Sep 27
  • PRICE: 4389.25 @ 07:05 BST Oct 8
  • SUP 1: 4260.00 Low Oct 1 and the bear trigger
  • SUP 2: 4243.50 Low Jul 20
  • SUP 3: 4214.50 Low Jul 19 and a key support
  • SUP 4: 4117.00 Low Jun 21

S&P E-minis traded higher yesterday as risk concerns ease. Attention is on the 50-day EMA that intersects at 4390.87 today. This is an important short-term pivot resistance and a clear break is required to signal scope for a stronger bounce. This would open 4472.00, the Sep 27 high. The contract did probe the 50-day EMA yesterday. Key support to watch and the bear trigger is unchanged at 4260.00, the Oct 1 low.

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