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EUROSTOXX 50 Bulls Remain In The Driver's Seat

  • A bull cycle in Eurostoxx 50 futures remains firmly intact and the contract has again traded higher this week.
  • Moving average studies remain in a bull-mode position, highlighting positive market sentiment.
  • Sights are on 4939.30 next, 2.382 projection of the Nov 8 - 24 - 28 price swing.
  • Further out, scope is seen for a climb towards a bull channel top, drawn from the Oct 27 low.
  • Initial firm support lies at the 20-day EMA.

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