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Price Signal Summary - EUROSTOXX50 Bear Cycle Extends

OUTLOOK
  • In the equity space, the short-term trend condition in S&P E-Minis remains bearish and Tuesday’s move higher is considered corrective. Price last week cleared key short-term support at 3960.75, Mar 2 low to confirm a resumption of the bear cycle that has been in place since Feb 2. The move lower signals scope for an extension towards 3822.00 next, the Dec 22 low. Initial firm resistance is seen at 4035.81, the 50-day EMA.
  • EUROSTOXX 50 futures started this week on a bearish note and today’s move lower has resumed the current downtrend. The contract is through Monday’s low and this reinforces last week’s breach of a key support at the base of a bull channel drawn from the Oct 13 low. The trendline break highlights a reversal of the uptrend that started late September 2022. The focus is on the 4000.00 handle next. Initial firm resistance is at 4232.10, the 20-day EMA.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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