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Price Signal Summary - Key Support In EUROSTOXX 50 Futures Remains Exposed

OUTLOOK
  • S&P E-Minis found resistance last week at 4430.50 (Oct 12 high) and this means that - for now - resistance at the 50-day EMA, at 4422.22, remains intact. A clear breach of the average is required to strengthen bullish conditions and this would open 4486.12, trendline resistance drawn from the Jul 27 high. On the downside, a deeper pullback would open 4235.50, the Oct 4 low and bear trigger.
  • A bearish theme in EUROSTOXX 50 futures remains in play and this week’s move signals the end of the recent Oct 4 - 12 corrective cycle. Note too that resistance at the 50-day EMA, at 4241.70, remains intact. A clear break of this average is required to signal scope for a stronger correction. Sights are on the bear trigger at 4082.00, the Oct 4 low. Clearance of this level would confirm a resumption of the downtrend. A break would open 4055.40, 76.4% retracement of the Mar 20 - Jul 31 bull cycle.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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