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Price Signal Summary - Bear Threat in EURSTOXX 50 Futures Remains Present

OUTLOOK
  • For now, gains in the E-mini S&P contract are considered corrective and a bear cycle remains in play. Key resistance is at 4597.50, the Sep 1 high where a break is required to reinstate the recent bullish theme. A stronger sell-off would open key support and bear trigger at 4397.75, the Aug 18 low. Clearance of this support would strengthen a bearish case.
  • A bear cycle in EUROSTOXX 50 futures remains in play and the recent recovery is considered corrective. Price has recently pierced 4187.00, the Aug 18 low and a bear trigger. A clear break of this level would strengthen bearish conditions and open 4177.40, 61.8% of the Mar 20 - Jul 31 bull leg. Initial firm resistance is seen at 4278.60, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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