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Price Signal Summary - S&P E-Minis Bull Cycle Extends

OUTLOOK
  • In the equity space, the uptrend in S&P E-Minis remains intact and Monday’s rally reinforces current conditions. Resistance at 4841.50, the Dec 28 high, has recently been cleared, confirming an extension of the uptrend. Sights are on 4982.62 next,1.50 projection of Nov 10 - Dec 1 - 7 price swing. Initial support is at 4844.18 20- day EMA.
  • EUROSTOXX 50 futures traded sharply higher last week and the contract started this week’s session on a bullish note, with price holding on to its recent gains. Key resistance at 4634.00, the Dec 14 high, has been cleared. The break confirms a resumption of the medium-term uptrend and sights are on the 4700.00 handle next. Initial firm support lies at 4522.80, the 20-day EMA.

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