EQUITY TECHS: E-MINI S&P: (H6) Key Support Remains Exposed
Mar-13 13:48
- RES 4: 6983.75 High Feb 25
- RES 3: 6878.09 50-day EMA
- RES 2: 6839.26 20-day EMAl
- RES 1: 6769.50 High Mar 12
- PRICE: 6715.25 @ 13:38 GMT Mar 13
- SUP 1: 6640.00 Intraday low
- SUP 2: 6583.00 Low Nov 21 ‘25 and a key medium-term support
- SUP 3: 6534.52 1.382 proj of the Feb 25 - Mar 3 - 5 price swing
- SUP 4: 6503.25 1.500 proj of the Feb 25 - Mar 3 - 5 price swing
A sharp bounce in S&P E-Minis on Monday and the reversal from Tuesday’s high highlights the fact that recent gains were most likely corrective. This has allowed a recent oversold trend condition to unwind. A continuation lower would open 6583.00, the Nov 21 ‘25 low and the next key medium-term support. Clearance of this level would strengthen a bearish threat. Initial firm resistance is 6878.09, the 50-day EMA.
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