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Price Signal Summary - EUROSTOXX50 Tests Trades Through Support

OUTLOOK
  • In the equity space, the S&P E-Minis trend conditions remain bullish and the latest pullback is, for now, considered corrective. Last week’s bounce from 4114.00, May 24 low, means that support around the 50-day EMA remains intact. The average intersects at 4134.83 and a clear break of it is required to signal a reversal. Key resistance is at 4244.00, the Feb 2 high. Clearance of this hurdle would resume the uptrend that started on Mar 13.
  • EUROSTOXX 50 futures traded lower again Wednesday and in the process, cleared the 50-day EMA and cleared support at 4252.00, the May 25 low. Price has also pierced 4233.00, the May 4 low and a key short-term level. A clear break of 4233.00 would signal a potential reversal and highlight a stronger bearish theme. This would open the 4200.00 handle. The bull trigger is at 4409.50, the Nov 18 2021 high (cont) and is a major resistance.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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