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OUTLOOK: Price Signal Summary - Potential Reversal In S&P E-Minis

OUTLOOK
  • In the equity space, a volatile and bullish session in S&P E-Minis yesterday, highlights a possible reversal and the end of the corrective cycle between Sep 3 - 6. A continuation higher would signal scope for a climb towards 5669.75, the Sep 3 high. On the downside, a reversal lower and a breach of 5394.0.00, the Sep 6 low, would reinstate a bearish theme. First support lies at 5515.90, the 50-day EMA.
  • Despite a short-term bounce, EUROSTOXX 50 futures continue to trade closer to their recent lows. The latest move down has resulted in a break of both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, 61.8% of the Aug 5 - Sep 3 bull cycle. First resistance to watch is at 4867.99, the 50-day EMA.

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