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Price Signal Summary - E-Minis Candle Pattern And A Break Of Support Highlights A Reversal

OUTLOOK
  • In the equity space, a strong rally in the S&P E-Minis Tuesday stalled at 4180.00. Thursday’s sell-off has reinforced a bearish threat and note that this also highlights the importance of a shooting star candle formation on Tuesday - a reversal signal. A continuation lower would open 3855.13, 50.0% retracement of the Oct 13 - Dec 13 uptrend.
  • EUROSTOXX 50 futures traded sharply lower Thursday to extend the pullback from Tuesday’s 4037.00 high. This suggests potential for a deeper retracement with sights on the 50-day EMA, at 3794.10. A break of this average would signal scope for a continuation lower.

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