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Price Signal Summary - EUROSTOXX 50 Bull Cycle Remains In Play

OUTLOOK
  • In the equity space S&P E-Minis maintain a firmer short-term tone despite today’s pullback - a move lower is for now considered corrective. Price has recently cleared the 20- and 50-day EMAs. The break of the 50-day average - a key short-term pivot level - has strengthened bullish conditions. Sights are on 4430.50, the Oct 12 high and 4432.12, trendline resistance drawn from the Jul 27 high. Key support and the bear trigger is at 4122.25, the Oct 27 low. Initial support lies at 4257.75, the Nov 2 low.
  • A short-term bull cycle in EUROSTOXX 50 futures remains intact and the contract traded higher Thursday, resuming the current uptrend. Price has recently traded through resistance at both the 20- and 50-day EMAs. The clear break of the 50-day EMA, at 4185.90, signals scope for a stronger bull cycle and opens 4256.00, the Oct 12 high. On the downside, key support and the bear trigger lies at 4001.0, the Oct 27 low. Initial support is at 4148.30, 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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