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Price Signal Summary - Corrective Pullback In EUROSTOXX 50 Futures

OUTLOOK
  • In the equity space, the trend condition in S&P E-Minis is unchanged and remains bullish - recent gains reinforce current conditions. The contract traded to a fresh cycle high again on Monday, confirming a resumption of the uptrend. Recent corrections have been shallow and this continues to highlight a strong uptrend. The focus is on the 5100.00 handle. Initial support lies at 4937.25, the 20-day EMA.
  • EUROSTOXX 50 futures traded higher again Monday delivering another fresh cycle high that confirms an extension of the current uptrend. This reinforces bullish conditions and the importance of the recent break of a key resistance at the Dec 14 high of 4634.00. The clear breach of the 4700.00 handle paves the way for a climb towards 4788.10, the 1.764 projection of the Nov 8 - 24 - 28 price swing. Initial firm support lies at 4641.70, the 20-day EMA. Today’s move lower is considered corrective.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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