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Price Signal Summary - EUROSTOXX50 Trend Condition Remains Bullish

OUTLOOK
  • In the equity space, S&P E-Minis traded lower Thursday. The short-term outlook remains bullish and a pullback is considered corrective. A bullish theme follows recent strong gains that resulted in a break of 3928.00, the Nov 1 high. This has established a sequence of higher highs and higher lows on the daily scale. The focus is on 4100.00 next. On the downside, key short-term support is at 3704.25, the Nov 3 low. Initial firm support lies at 3857.34, the 50-day EMA.
  • A bullish EUROSTOXX 50 futures outlook remains intact and price is consolidating at its recent highs. Resistance at 3810.00, the Aug 17 high and an important bull trigger, has recently been breached. Moving average studies remain in a bull mode set-up and this highlights positive market sentiment. The focus is on 3944.00, Mar 29 high on the continuation chart. Initial firm support lies at 3697.00, the Nov 10 low. First support is 3810.00, the Aug 17 high.
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