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OUTLOOK: Price Signal Summary - EUROSTOXX50 Trend Needle Points North

OUTLOOK
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  • In the equity space, a bear threat in the S&P E-Minis contract remains present. The reversal lower from the Dec 26 high, highlights the end of the Dec 20 - 26 correction. Attention is on 5866.00, Dec 20 low and a key short-term support. Clearance of this level would strengthen a bearish theme. Initial firm resistance is 6107.50, the Dec 26 high. A breach of this hurdle would highlight a bull reversal.
  • A bull cycle in the EUROSTOXX 50 futures contract remains intact and price is trading at its recent highs. This week’s rally highlights a reversal of the recent corrective pullback. Resistance at 5040.00, the Dec 9 high, has been pierced. A clear break of this hurdle would open 5068.13, the 0.764 projection of the Nov 21 - Dec 9 - 20 price swing. On the downside, initial firm support lies at 4933.29, the 50-day EMA.
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  • In the equity space, a bear threat in the S&P E-Minis contract remains present. The reversal lower from the Dec 26 high, highlights the end of the Dec 20 - 26 correction. Attention is on 5866.00, Dec 20 low and a key short-term support. Clearance of this level would strengthen a bearish theme. Initial firm resistance is 6107.50, the Dec 26 high. A breach of this hurdle would highlight a bull reversal.
  • A bull cycle in the EUROSTOXX 50 futures contract remains intact and price is trading at its recent highs. This week’s rally highlights a reversal of the recent corrective pullback. Resistance at 5040.00, the Dec 9 high, has been pierced. A clear break of this hurdle would open 5068.13, the 0.764 projection of the Nov 21 - Dec 9 - 20 price swing. On the downside, initial firm support lies at 4933.29, the 50-day EMA.