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Price Signal Summary - EUROSTOXX50 Futures Remain Above Bull Channel Support

OUTLOOK
  • In the equity space, the S&P E-Minis trend condition remains bearish and short-term signals suggest scope for an extension lower near-term. The contract continues to trade below the 50-day EMA, at 4026.60 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. On the upside, first resistance to watch is 4061.83, the 20-day EMA.
  • EUROSTOXX 50 futures are firmer today and remain above Friday’s low of 4175.00. Key support to watch lies at 4165.20, the base of a bull channel drawn from the Oct 13 low. While channel support holds, the broader uptrend remains intact and a continuation higher near-term would expose the bull trigger at 4323.00, the Feb 16 high. A break of this hurdle would confirm a resumption of the broader uptrend. A confirmed breach of the channel base would alter 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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