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E-MINI S&P (Z1): Still Looking For Clear 50-Day EMA Break

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: 4329.50 @ 07:02 BST Oct 12
  • 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 have pulled away from recent highs. Recent attention has been on the 50-day EMA that intersects at 4389.01 today. This marks an important short-term pivot resistance and a clear break is required to signal scope for a stronger recovery that would open 4472.00, Sep 27 high. Key support to watch is unchanged at 4260.00, the Oct 1 low and the bear trigger. A break would confirm a resumption of the downtrend that started early September.

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