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OUTLOOK: Price Signal Summary - EUROSTOXX50 Trend Needle Points North

OUTLOOK
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  • In the equity space, S&P E-Minis continue to climb and the contract maintains a firmer tone. Attention is on resistance at 6162.25, the Jan 24 high. Clearance of this level would expose the key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend.On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would highlight a bearish development. First support lies at 6075.54, the 20-day EMA.
  • The trend needle in EUROSTOXX 50 futures remains bullish. The move higher last week confirmed once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. A major resistance at 5525.00, the March 2000 all-time high (cont), has been pierced. A clear break of it would highlight a key bullish technical breach. This would open 5552.90 2.764, a projection of the Dec 20 ‘24 - Jan 8 - 13 price swing.  Support to watch is 5325.83, the 20-day EMA.
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  • In the equity space, S&P E-Minis continue to climb and the contract maintains a firmer tone. Attention is on resistance at 6162.25, the Jan 24 high. Clearance of this level would expose the key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend.On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would highlight a bearish development. First support lies at 6075.54, the 20-day EMA.
  • The trend needle in EUROSTOXX 50 futures remains bullish. The move higher last week confirmed once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. A major resistance at 5525.00, the March 2000 all-time high (cont), has been pierced. A clear break of it would highlight a key bullish technical breach. This would open 5552.90 2.764, a projection of the Dec 20 ‘24 - Jan 8 - 13 price swing.  Support to watch is 5325.83, the 20-day EMA.