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Price Signal Summary - EURSOTOXX 50 Is Approaching Key Resistance

OUTLOOK
  • In the equity space, S&P E-Minis maintains a firmer tone. Price has breached resistance at 4073.75, the Mar 22 high. The contract is also once again trading above the 50-day EMA - the average intersects at 4023.39. The break of 4073.75 strengthens bullish conditions and opens 4119.50, the Mar 6 high. Key short-term support lies at 3937.00, the Mar 24 low. A break of this support would be bearish. Initial support lies at 4012.49, the 20-day EMA.
  • EUROSTOXX 50 futures traded higher Thursday. The contract has cleared resistance at 4164.00, the Mar 22 high. This cancels a recent bearish threat and confirms a resumption of the bull cycle that started Mar 20. A continuation higher would open key resistance at 4268.00, the Mar 6 high. Moving average studies are in a bull-mode set-up and this suggests the broader uptrend is intact. Initial firm support lies at 4034.00, the Mar 24 low.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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