November 15, 2022 10:36 GMT
Price Signal Summary - Equity Bull Run Still In Play
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- In the equity space, S&P E-Minis maintains a bullish theme and price is holding on to its most recent gains. The recent resistance at 3928.00, the Nov 1 high, strengthens a short-term bullish condition and price has established a sequence of higher highs and higher lows on the daily chart. The focus is on 4023.44 next, 61.8% of the Aug 16 - Oct 13 downleg. On the downside, key short-term support has been defined at 3704.25, the Nov 3 low. Initial support is at 3842.49, the 50-day EMA.
- A bullish EUROSTOXX 50 futures outlook remains intact following recent strong gains. 3810.00, the Aug 17 high and an important bull trigger, has been cleared. Moving average studies are in a bull mode set-up, highlighting current market sentiment. The focus is on 3944.00, the Mar 29 high on the continuation chart. Firm support lies at 3697.00, the Nov 10 low.