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Price Signal Summary - EUROSTOXX 50 Reversal Extends

OUTLOOK
  • In the equity space, the E-mini S&P contract continues to trade below 4634.50, the Jul 27 high. The pullback from this level highlights a possible short-term bearish signal. Price has found resistance at the top of a bull channel drawn from the Mar 13 low - the channel top is at 4654.42 today. An extension lower would expose the 20-day EMA - at 4547.38 and a break of it would strengthen bearish conditions. Clearance of the channel top is required to resume the uptrend.
  • EUROSTOXX 50 futures have found resistance at 4513.00, Monday’s high, and the contract has traded sharply lower. For now, the pullback is considered corrective. However, the move lower has resulted in a break of both the 20- and 50-day EMAs and this highlights a stronger bearish threat. The break lower has exposed 4331.00, the Jul 26 low and a key support. Key resistance and the bull trigger is at 4513.00. First resistance is at 4424.00, today’s high.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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