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Price Signal Summary - EUROSTOXX50 Remains Above Bull Channel Support

OUTLOOK
  • In the equity space, the S&P E-Minis trend conditions is bearish, however, the strong bounce late last week has eased bearish pressure. The contract has traded above the 20- and 50-day EMAs. An ability to hold on to its latest gains would signal scope for a recovery towards 4100.20, 61.8% of the Feb 2 - Mar 2 bear leg. On the downside, key support has been defined at 3925.00, the Mar 2 low. A break of this level would reinstate the recent bearish theme.
  • EUROSTOXX 50 futures have recovered from recent lows and importantly, this has left a key support intact - the base of a bull channel drawn from the Oct 13 low. The line intersects at 4221.20. While channel support holds, the broader uptrend remains intact. Monday’s gains resulted in a test of 4323.00, the Feb 16 high and bull trigger. A clear break would resume the uptrend. On the downside, a breach of the channel base alters the picture.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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