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E-MINI S&P (Z2): Bear Trend Remains Intact

EQUITY TECHS
  • RES 4: 4234.25 High Aug 26
  • RES 3: 3946.63/4175.00 50-day EMA / High Sep 13
  • RES 2: 3829.83 20-day EMA
  • RES 1: 3751.25 High Sep 28
  • PRICE: 3609.75 @ 06:55 BST Oct 3
  • SUP 1: 3571.75 Round number support
  • SUP 2: 3558.97 1.382 proj of the Aug 16 - Sep 7 - 13 price swing
  • SUP 3: 3506.38 1.50 proj of the Aug 16 - Sep 7 - 13 price swing
  • SUP 4: 3453.78 1.618 proj of the Aug 16 - Sep 7 - 13 price swing

S&P E-Minis trend conditions remain bearish and the contrast has traded to a fresh cycle low today. Moving average studies are in a bear mode position, highlighting the current trend direction. Attention is on key support at 3657.00, Jun 17 low, that has been breached. This strengthens bearish conditions and confirms a resumption of the broader downtrend. The focus is on 3558.97, a Fibonacci projection. Initial firm resistance is 3751.25, the Sep 28 high.

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