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E-MINI S&P (Z2): Approaching Critical Support

EQUITY TECHS
  • RES 4: 4313.50 High Aug 18
  • RES 3: 4234.25 High Aug 26
  • RES 2: 4009.81/4175.00/47 50-day EMA / High Sep 13
  • RES 1: 3783.25/3936.25 High Sep 23 / 20
  • PRICE: 3676.25 @ 06:29 BST Sep 26
  • SUP 1: 3660.25 Low Sep 23
  • SUP 2: 3657.00 Low Jun 17 and a key M/T bear trigger
  • SUP 3: 3600.00 Round number support
  • SUP 4: 3558.97 1.382 proj of the Aug 16 - Sep 7 - 13 price swing

S&P E-Minis trend conditions remain bearish following last week’s extension lower - the trend has accelerated following the break of the July support. The break lower strengthens bearish conditions and attention is on key support at 3657.00, Jun 17 low and an important medium-term bear trigger. A break would confirm a resumption of the bear trigger. On the upside, initial firm resistance has been defined at 3936.25, the Sep 20 high.

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