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Price Signal Summary - EUROSTOXX50 Bull Channel Base Remains Intact

OUTLOOK
  • In the equity space, the S&P E-Minis trend conditions are bearish despite the recovery from Thursday’s session low. Price remains below the 50-day EMA, at 4018.89 and sights are set on 3901.75, the Jan 19 low and 3887.62, the 76.4% retracement of the Dec 22 - Feb 2 bull cycle. Resistance to watch is at both the 50-day EMA and 4033.48, the 20-day EMA. Note that a clear break of both these EMAs would signal a possible reversal.
  • EUROSTOXX 50 futures remain above 4175.00, the Feb 24 low. Key support to watch is 4202.50, the base of a bull channel drawn from the Oct 13 low - the line was pierced yesterday. While channel support holds, the broader uptrend remains intact and the focus is on the bull trigger at 4323.00, Feb 16 high. A break of this hurdle would resume the uptrend. On the downside, a breach of the channel base alters the picture.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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