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Price Signal Summary - S&P E-Minis Are Trading Above The 50-day EMA Once Again

OUTLOOK
  • In the equity space, S&P E-Minis are trading higher, extending Wednesday’s gains. Price has pierced resistance at 4073.75, the Mar 22 high. The contract has also once again moved to levels above the 50-day EMA - the average intersects at 4021.12. A clear break of 4073.75 would strengthen bullish conditions and signal scope for a climb towards 4119.50, the Mar 6 high. On the downside, key short-term support lies at 3937.00, the Mar 24 low. A break of this support would be bearish. Initial support lies at 4005.39, the 20-day EMA.
  • EUROSTOXX 50 futures traded higher Wednesday and the contract is firmer today. Price has cleared resistance at 4164.00, the Mar 22 high. This cancels a recent bearish threat and confirms a resumption of the bull cycle that started Mar 20. A continuation higher would open key resistance at 4268.00, Mar 6 high. Moving average studies are in a bull-mode set-up and this suggests the broader uptrend is intact. Initial firm support lies at 4034.00, the Mar 24 low. First support is 4102.40, the 50-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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