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EQUITIES: Eurostoxx 50 Futures MA Studies Remain in Bull Mode Setup

EQUITIES
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The trend condition in Eurostoxx 50 futures remains bullish, with prices edging to a new alltime high on the continuation contract. The move higher last week confirmed once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. Support to watch is 5325.83, the 20-day EMA. S&P E-Minis continue to climb and the contract maintains a firmer tone. Attention is on resistance at 6162.25, the Jan 24 high. Clearance of this level would expose the key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend. On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would highlight a bearish development.

  • Japan's NIKKEI closed lower by 105.79 pts or -0.27% at 39164.61 and the TOPIX ended 8.26 pts lower or -0.3% at 2767.25.
  • Elsewhere, in China the SHANGHAI closed higher by 27.049 pts or +0.81% at 3351.539 and the HANG SENG ended 32.57 pts lower or -0.14% at 22944.24.
  • Across Europe, Germany's DAX trades higher by 51.82 pts or +0.23% at 22895.36, FTSE 100 lower by 9.44 pts or -0.11% at 8757, CAC 40 down 15.83 pts or -0.19% at 8191 and Euro Stoxx 50 up 1.47 pts or +0.03% at 5534.71.
  • Dow Jones mini up 40 pts or +0.09% at 44682, S&P 500 mini up 5 pts or +0.08% at 6151.25, NASDAQ mini up 25 pts or +0.11% at 22255.5.
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The trend condition in Eurostoxx 50 futures remains bullish, with prices edging to a new alltime high on the continuation contract. The move higher last week confirmed once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. Support to watch is 5325.83, the 20-day EMA. S&P E-Minis continue to climb and the contract maintains a firmer tone. Attention is on resistance at 6162.25, the Jan 24 high. Clearance of this level would expose the key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend. On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would highlight a bearish development.

  • Japan's NIKKEI closed lower by 105.79 pts or -0.27% at 39164.61 and the TOPIX ended 8.26 pts lower or -0.3% at 2767.25.
  • Elsewhere, in China the SHANGHAI closed higher by 27.049 pts or +0.81% at 3351.539 and the HANG SENG ended 32.57 pts lower or -0.14% at 22944.24.
  • Across Europe, Germany's DAX trades higher by 51.82 pts or +0.23% at 22895.36, FTSE 100 lower by 9.44 pts or -0.11% at 8757, CAC 40 down 15.83 pts or -0.19% at 8191 and Euro Stoxx 50 up 1.47 pts or +0.03% at 5534.71.
  • Dow Jones mini up 40 pts or +0.09% at 44682, S&P 500 mini up 5 pts or +0.08% at 6151.25, NASDAQ mini up 25 pts or +0.11% at 22255.5.