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Price Signal Summary -  Corrective EUROSTOXX50 Pullback

OUTLOOK
  • In the equity space, the S&P E-Minis trend needle continues to point north. The contract traded higher last week and breached key short-term resistance and the bull trigger at 4206.25, the May 1 high. Clearance of this level confirms an extension of the bull trend from Mar 13 and opens 4244.00, the Feb 2 high and the next important resistance. Key support is at 4062.25, the May 4 low. Initial support lies at 4156.44, the 20-day EMA.
  • EUROSTOXX 50 futures outlook remains bullish and today’s pullback is considered corrective - for now. Price has recently cleared resistance at 4363.00, the Apr 21 high and a bull trigger. The break confirms a resumption of the bull cycle from Mar 20 and a continuation of the medium-term uptrend. This opens 4409.50, the Nov 18 2021 high on the continuation chart and a key resistance. Firm support is at 4263.00, the 50-day EMA. 4321.00 is first support, 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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