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OUTLOOK: Price Signal Summary - EUROSTOXX 50 Beat Threat Remains Present 

OUTLOOK
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  • In the equity space, bullish conditions in S&P E-Minis remain intact and last week’s gains reinforce current conditions. A key short-term support has been defined at 5724.25, Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a 1.382 projection of the Sep 6 - 17 - 18 price swing. Initial support is at 5927.25, the Oct 17 high.
  • A bearish theme in EUROSTOXX 50 futures remains intact and last week’s fresh cycle lows reinforce current conditions and confirmed a resumption of the bear cycle. The contract has pierced 4815.50, the 50.0% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4757.00, the Sep 6 / 10 low and a key support. Initial firm resistance has been defined at 4961.00, the Nov high, where a break would instead highlight a reversal.
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  • In the equity space, bullish conditions in S&P E-Minis remain intact and last week’s gains reinforce current conditions. A key short-term support has been defined at 5724.25, Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a 1.382 projection of the Sep 6 - 17 - 18 price swing. Initial support is at 5927.25, the Oct 17 high.
  • A bearish theme in EUROSTOXX 50 futures remains intact and last week’s fresh cycle lows reinforce current conditions and confirmed a resumption of the bear cycle. The contract has pierced 4815.50, the 50.0% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4757.00, the Sep 6 / 10 low and a key support. Initial firm resistance has been defined at 4961.00, the Nov high, where a break would instead highlight a reversal.