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Price Signal Summary - Bullish Engulfing Candle In S&P E-Minis Highlights A Reversal

OUTLOOK
  • In the equity space, S&P E-Minis are trading higher. Yesterday’s candle pattern is a bullish engulfing line and this highlights an important short-term reversal. It signals scope for a stronger corrective bounce and scope is seen for a climb towards the 20-day EMA at 3816.53. Key support has been defined at yesterday’s low of 3571.75.
  • EUROSTOXX 50 futures have established a bullish short-term tone. The strong recovery this week suggests the contract has entered a corrective cycle. Attention is on resistance at the 20-day EMA, at 3476.10. It has been pierced, a clear break would open 3511.60, the 50-day EMA. Support is at 3236.00, the Oct 3 low.
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  • In the equity space, S&P E-Minis are trading higher. Yesterday’s candle pattern is a bullish engulfing line and this highlights an important short-term reversal. It signals scope for a stronger corrective bounce and scope is seen for a climb towards the 20-day EMA at 3816.53. Key support has been defined at yesterday’s low of 3571.75.
  • EUROSTOXX 50 futures have established a bullish short-term tone. The strong recovery this week suggests the contract has entered a corrective cycle. Attention is on resistance at the 20-day EMA, at 3476.10. It has been pierced, a clear break would open 3511.60, the 50-day EMA. Support is at 3236.00, the Oct 3 low.