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Price Signal Summary - S&P E-Minis Bull Cycle Still In Play

OUTLOOK
  • In the equity space, S&P E-Minis have pulled back from recent highs. Despite the move lower, the near-term outlook is bullish following the recovery from 3502.00, Oct 13 low. The bounce off this level signalled the start of a correction and this is allowing an oversold trend condition to unwind. The focus is on 3820.00, the Oct 5 high and a bull trigger. Clearance of this level would strengthen a bullish theme. On the downside, key support is unchanged at 3502.00. Initial support to watch lies at 3641.50, Friday’s low.
  • The short-term condition in EUROSTOXX 50 futures is bullish following the recovery from 3251.00, Oct 13 low. Both the 50-day EMA and resistance at 3492.00, the Oct 6 high and a bull trigger, have been breached. Note that the contract has also cleared trendline resistance drawn from the Aug 17 high - the trendline intersects at 3476.50. The break strengthens bullish conditions and opens 3585.00, the Sep 14 high. Initial firm support lies at 3418.00, the Oct 21 low.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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