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Price Signal Summary - Key Resistance In S&P E-Minis Remains Exposed

OUTLOOK
  • In the equity space, S&P E-Minis remain above last Friday’s low and the contract has traded higher this week. Key resistance and the bull trigger is at 4841.50, the Dec 28 high. Clearance of this level would resume the uptrend and open 4854.75, the 1.00 projection of Nov 10 - Dec 1 - 7 price swing. Support at the 20-day EMA of 4766.12 has recently been pierced. A clear break of this average would strengthen a short-term bearish threat and open the 50-day EMA, at 4673.91.
  • EUROSTOXX 50 futures are consolidating. The primary trend direction remains up and the recent move lower is considered corrective. MA studies are in a bull-mode position, signalling a rising trend cycle. Key short-term support is 4446.70, the 50-day EMA. A break of this average would signal scope for a deeper retracement and open 4370.00, the Nov 28 low. For bulls, a reversal higher would refocus attention on 4634.00, the Dec 14 high and bull trigger.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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