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OUTLOOK: Price Signal Summary - Bear Threat In The EUROSTOXX50 Contract Remains

OUTLOOK
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  • In the equity space, a bear threat in the S&P E-Minis contract remains present despite the most recent recovery. The reversal lower from the Dec 26 high, highlights the end of the recent Dec 20 - 26 corrective bounce. Attention is on 5866.00, the Dec 20 low and a key short-term support. Clearance of this level would strengthen a bearish theme. Initial firm resistance to monitor is 6107.50, the Dec 26 high.
  • A bull cycle in the EUROSTOXX 50 futures contract remains intact. However, the recent move down continues to highlight a corrective phase and despite the latest bounce, a short-term bear threat remains present - for now. Key short-term support has been defined at 4829.00, the Dec 20 low. A break of it would confirm a resumption of the bear cycle. Initial firm resistance to watch is at 4942.00, the Jan 2 high.
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  • In the equity space, a bear threat in the S&P E-Minis contract remains present despite the most recent recovery. The reversal lower from the Dec 26 high, highlights the end of the recent Dec 20 - 26 corrective bounce. Attention is on 5866.00, the Dec 20 low and a key short-term support. Clearance of this level would strengthen a bearish theme. Initial firm resistance to monitor is 6107.50, the Dec 26 high.
  • A bull cycle in the EUROSTOXX 50 futures contract remains intact. However, the recent move down continues to highlight a corrective phase and despite the latest bounce, a short-term bear threat remains present - for now. Key short-term support has been defined at 4829.00, the Dec 20 low. A break of it would confirm a resumption of the bear cycle. Initial firm resistance to watch is at 4942.00, the Jan 2 high.