E-MINI S&P (Z2): Resumes Its Current Uptrend

• RES 4: 4100.00 Round number resistance
• RES 3: 4023.44 61.8% retracement of the Aug 16 - Oct 13 downleg
• RES 2: 3981.25 High Sep 14
• RES 1: 3924.25 High Oct 28
• PRICE: 3901.75 @ 06:48 BST Oct 31
• SUP 1: 3757.50/3641.50 Low Oct 27 / 21
• SUP 2: 3590.50/3502.00 Low Oct 17 / 13 and the bear trigger
• SUP 3: 3491.13 50.0% retracement of the 2020 - 2022 bull cycle
• SUP 4: 3453.78 1.618 proj of the Aug 16 - Sep 7 - 13 price swing

S&P E-Minis maintains a bullish tone and Friday’s resumption of the short-term uptrend reinforces current conditions. Last week’s climb resulted in a break of the 3820.00 hurdle, Oct 5 high. Furthermore, price has traded above the 50-day EMA, at 3834.42. Sights are on 3981.25 next, the Sep 14 high. On the downside, key short-term support has been defined at 3641.50, the Oct 21 low. Initial firm support to watch is at 3757.50, the Oct 27 low.