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Price Signal Summary - Key Short-Term Resistance In S&P E-Minis Remains Intact

OUTLOOK
  • In the equity space, the short-term trend condition in S&P E-Minis remains bearish and recent short-term gains appear to be a correction. Price has recently cleared a key short-term support at 3960.75, Mar 2 low to confirm a resumption of the bear cycle that has been in place since Feb 2. The move lower signals scope for an extension towards 3822.00 next, the Dec 22 low. Initial firm resistance is seen at 4026.76, the 50-day EMA. A break of this EMA would alter the picture.
  • The EUROSTOXX 50 futures outlook remains bearish following recent weakness and the contract traded lower earlier today. Short-term gains are considered corrective. The break of the 4000.00 handle signals scope for weakness towards 3865.00, the Jan 4 low and further out towards the 3800.00 handle. Initial firm resistance is seen at 4129.90, 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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