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May 19, 2023 09:40 GMT
Price Signal Summary - EUROSTOXX50 Tests The 4400 Handle
EUROSTOXX50 TECHS
- In the equity space, S&P E-Minis traded higher again Thursday and the contract has cleared key resistance and the bull trigger at 4206.25, the May 1 high. Clearance of this level confirms an extension of the bull trend from Mar 13. This opens 4244.00, the Feb 2 high and the next key short-term resistance. Key support is at 4062.25, the May 4 low. A move through this level would highlight a bearish threat. Initial firm support lies at 4116.32, the 50-day EMA.
- EUROSTOXX 50 futures traded higher yesterday and the contract is climbing today. Price has cleared resistance at 4363.00, the Apr 21 high and the bull trigger. The break confirms a resumption of the bull cycle from Mar 20 and confirms a continuation of the medium-term uptrend. This opens 4400.00 (tested) ahead of 4409.50, the Nov 18 2021 high on the continuation chart and a key resistance. Initial firm support is at 4252.20, the 50-day EMA.
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