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Price Signal Summary - Fresh Cycle High For EUROSTOXX50 Futures

OUTLOOK
  • In the equity space, S&P E-Minis are consolidating but, the trend condition remains bullish. The contract traded higher last week and confirmed a resumption of the bull cycle that started Dec 22. A key resistance and a bull trigger at 4180.00, Dec 13 high, has been pierced. A clear break would resume the broader uptrend and open 4250.00, the Aug 26 2022 high. Initial firm support to watch lies at 4002.94, the 50-day EMA. A pullback would be considered corrective.
  • The EUROSTOXX 50 futures trend needle is pointing north. The contract is trading higher today and has breached 4265.00, the Feb 3 high. The move higher confirms a resumption of the current uptrend and paves the way for gains towards 4303.20, the 2.382 projection of the Sep 29 - Oct 4 rise from the Dec 20 low. Note that the trend remains overbought. A pullback, if seen, would represent a healthy correction. Key support to watch lies at 4097.00, the Jan 19 low. Initial support is at 4158.40, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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