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Price Signal Summary - S&P 500 Bulls Remain In The Driver’s Seat

OUTLOOK
  • In the equity space, a bull theme in S&P E-Minis remains intact and last Friday’s gains reinforce this condition. The contract has pierced key resistance and the bull trigger at 4493.75, the Jun 16 high. A clear break of this level would confirm a resumption of the uptrend and pave the way for a climb towards 4532.08, the 2.236 projection of the May 4 - 19 - 24 price swing. On the downside, key trend support has been defined at 4368.50, the Jun 26 low.
  • The EUROSTOXX 50 futures uptrend remains intact and the latest pullback is considered corrective. Price has recently traded through resistance at 4438.00, the Jun 16 high and a bull trigger. The break confirms a resumption of the primary uptrend and paves the way for gains towards 4472.40, the 1.382 projection of the May 31 - Jun 5 - 7 price swing. Initial key support is seen at 4368.30, the 20-day EMA. A break would signal scope for a deeper correction.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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