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Price Signal Summary - EUROSTOXX 50 Futures Trade Through The 5000 Handle

OUTLOOK
  • In the equity space, the trend condition in S&P E-Minis remains bullish and the latest pullback is considered corrective. Last week’s fresh highs reinforce current conditions. Note that price action continues to highlight the fact that corrections remain shallow. This is an important bullish signal highlighting positive market sentiment. Support to watch is 5147.25 the 20-day EMA. Sights are on 5300.00 next.
  • A bullish theme in EUROSTOXX 50 futures remains intact and the contract is trading higher today. Moving average studies are in a bull-mode position - this continues to highlight positive market sentiment. Price has pierced the psychological 5000.00 handle. Scope is seen for a climb towards a bull channel top at 5042.10. The channel is drawn from the Oct 27 low. Initial firm support lies at 4873.00, the 20-day EMA.

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