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Price Signal Summary - EUROSTOXX 50 Pullback Considered Corrective

OUTLOOK
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  • In the equity space, the uptrend in S&P E-Minis remains intact and the pullback Thursday appears to be a correction. The contract also traded to a fresh cycle high yesterday, reinforcing a bullish theme. Recent gains have resulted in a break of a key resistance at 5333.50, the Apr 1 high. This confirmed a resumption of the primary uptrend and has opened 5372.73, a Fibonacci projection. Initial support is at 5252.44, the 20-day EMA.
  • A bullish theme in EUROSTOXX 50 futures remains intact and the recent pullback appears to be a correction - for now. The contract has recently cleared key resistance at 5079.00, the Apr 2 high, to confirm a resumption of the uptrend. This opens 5127.70 next, the 1.382 projection of the Jan 17 - Feb 12 - 13 price swing. Support at the 20-day EMA has been pierced. The next level to watch is 4952.10, the 50-day EMA.
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  • In the equity space, the uptrend in S&P E-Minis remains intact and the pullback Thursday appears to be a correction. The contract also traded to a fresh cycle high yesterday, reinforcing a bullish theme. Recent gains have resulted in a break of a key resistance at 5333.50, the Apr 1 high. This confirmed a resumption of the primary uptrend and has opened 5372.73, a Fibonacci projection. Initial support is at 5252.44, the 20-day EMA.
  • A bullish theme in EUROSTOXX 50 futures remains intact and the recent pullback appears to be a correction - for now. The contract has recently cleared key resistance at 5079.00, the Apr 2 high, to confirm a resumption of the uptrend. This opens 5127.70 next, the 1.382 projection of the Jan 17 - Feb 12 - 13 price swing. Support at the 20-day EMA has been pierced. The next level to watch is 4952.10, the 50-day EMA.