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Price Signal Summary - S&P E-Minis Breach Key Support

OUTLOOK
  • S&P E-Minis maintain a softer tone and the contract has started the week on a bearish note. Support at 4235.50, the Oct 4 low and bear trigger, have been breached. The break of this support confirms a resumption of the downtrend and opens 4197.75, the May 24 low. Price remains below resistance at the 50-day EMA, at 4410.92. A clear breach of this average is required to strengthen bullish conditions. Resistance at the 20-day EMA is at 4360.16.
  • A bearish theme in EUROSTOXX 50 futures remains in play and last week’s move lower reinforces current conditions. The contract has traded through support at 4082.00, the Oct 4 low and a bear trigger. This break confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on the 4000.00 handle. Initial firm resistance is at 4166.00, the 20-day EMA. First resistance is at 4082.00, the Oct 4 low.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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