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

OUTLOOK
  • In the equity space, the trend condition in S&P E-Minis is unchanged and remains bullish - yesterday’s gains reinforce current conditions. The contract has traded to a fresh cycle high, confirming a resumption of the uptrend. Recent corrections have been shallow - this also highlights a strong uptrend. The focus is on 5050.14, the 1.764 projection of the Nov 10 - Dec 1 - 7 price swing. Initial key short-term support has been defined at 4866.00, the Jan 31 low.
  • EUROSTOXX 50 futures traded higher yesterday and again delivered fresh cycle highs, confirming a resumption of the current uptrend. This reinforces the bullish importance of the recent break of a key resistance at the Dec 14 high of 4634.00. The clear breach of the 4700.00 handle paves the way for a climb towards 4725.50, the 1.50 projection of the Nov 8 - 24 - 28 price swing. Initial firm support lies at 4607.40, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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