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E-MINI S&P (Z2): Reversal Threatens The Recent Bull Cycle

EQUITY TECHS
  • 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: 4175.00/47 Intraday high / 61.8% of Aug 16 - Sep 7 downleg
  • PRICE: 4042.50 @ 14:51 BST Sep 13
  • SUP 1: 4022.50/3900.00 Low Sep 9 / Low Sep 7 and the bear trigger
  • SUP 2: 3851.50 Low Jul 19
  • SUP 3: 3741.75 Low Jul 14
  • SUP 4: 3657.00 Low Jun 17 and a major support

A strong reversal in S&P E-Minis today, following the US CPI release, threatens the recent recovery. A continuation lower would expose the key short-term support at 3900.00, Sep 7 low and a bear trigger. A break of this level would strengthen a bearish case and signal scope for deeper pullback. Today’s high of 4175.00 represents an important near-term resistance. A break is required to resume bullish activity.

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