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E-MINI S&P (Z2): Bearish Outlook

EQUITY TECHS
  • RES 4: 4234.25 High Aug 26
  • RES 3: 4175.00 High Sep 13 and a key resistance
  • RES 2: 3886.13 50-day EMA
  • RES 1: 3820.00 High Oct 5
  • PRICE: 3600.50 @ 15:21 BST Oct 12
  • SUP 1: 3571.75 Low Oct 3 and the bear trigger
  • 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 remains below last week’s high of 3820.00 on Oct 5. This level marks a key resistance, where a break is required to reinstate a short-term bullish theme. The broader trend remains down and attention is on the bear trigger at 3571.75, the Oct 3 low. A break of this level would confirm a resumption of the broader downtrend and open 3558.97, a Fibonacci projection.

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