Free Trial

Price Signal Summary - EUROSTOXX50 Trend Needle Points North

OUTLOOK
  • In the equity space, the S&P E-Minis outlook remains bullish. Recent consolidation in the daily chart appears to be a bull flag formation - a continuation pattern. This reinforces a bull theme. Furthermore, recent gains resulted in a break of 3928.00, Nov 1 high, establishing a positive price sequence of higher highs and higher lows. The focus is on 4100.00 next. Initial firm support lies at 3865.69, the 50-day EMA.
  • A bullish EUROSTOXX 50 futures outlook remains intact and the contract is holding on to its latest gains. The recent break of resistance at 3810.00, Aug 17 high and an important bull trigger, reinforced the current bull theme. Moving average studies remain in a bull mode set-up too. The focus is on 3944.00, Mar 29 high (cont). First support is 3810.00, the Aug 17 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.