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Price Signal Summary - EUROSTOXX50 Futures Recovery Extends

OUTLOOK
  • In the equity space, the uptrend in S&P E-Minis remains intact and this week’s move reinforces current conditions. Resistance at 4841.50, the Dec 28 high has recently been cleared, confirming an extension of the price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode condition, highlighting positive market sentiment. Sights are on 4952.45, the 1.382 projection of Nov 10 - Dec 1 - 7 price swing. Key support lies at 4713.85, the 50-day EMA. Initial support lies at 4804.36, the 20-day EMA.
  • EUROSTOXX 50 futures have recovered from last week’s low of 4402.00 (the Jan 17 low) and the contract is trading higher today. 4402.00 represents a key short-term support. A break of it would resume recent bearish pressure and open 4370.00, the Nov 28 low. On the upside, resistance at 4536.00, the Jan 11 high, has been breached. This is a bullish development and highlights a potential S/T reversal and a resumption of the primary uptrend. Sights are on 4599.00, the Jan 2 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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