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Free AccessE-MINI S&P (Z2): Bear Threat Still Present
- RES 4: 4345.75 High Aug 16 and a bull trigger
- RES 3: 4313.50 High Aug 18
- RES 2: 4234.25 High Aug 26
- RES 1: 4002.92/4175.00/47 20-day EMA / High Sep 13
- PRICE: 3892.75 @ 14:28 BST Sep 21
- SUP 1: 3843.25 Low Sep 20
- SUP 2: 3819.54 76.4% retracement of the Jun 17 Aug 16 bull leg
- SUP 3: 3741.75 Low Jul 14
- SUP 4: 3657.00 Low Jun 17 and a major support
S&P E-Minis are consolidating but remain soft. A bearish outlook follows last week’s reversal and break of a key short-term support at 3900.00, the Sep 7 low. This confirmed a resumption of the bear cycle that started mid-August and has paved the way for a move towards 3819.54, a Fibonacci retracement. Key short-term resistance has been defined at 4175.00, the Sep 13 high. Initial resistance is at 4002.92, the 20-day EMA.
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