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Price Signal Summary - S&P E-Minis Clear Key Resistance

OUTLOOK
  • In the equity space, the {US} S&P E-Minis trend conditions remain bullish and the contract traded higher Friday. Resistance at 4244.00, the Feb 2 high and a medium-term bull trigger, has been cleared. The break reinforces bullish conditions and confirms a resumption of the uptrend that started in October 2022. This opens 4327.50 next, the Aug 16 2022 high (cont). The 50-day EMA, at 4144.35, remains a key support. A break of this average is required to signal a reversal. Initial support to watch is 4184.26, the 20-day EMA.
  • EUROSTOXX 50 futures traded higher Friday as the contract recovered from last Wednesday’s low of 4216.00. For now, the climb appears to be a correction. Price action earlier last week reinforced a bearish theme following the break of support at 4252.00, the May 25 low. Price has also pierced support at 4233.00, the May 4 low and a key short-term level. Resistance to watch is 4362.00, May 29 high, a break would be bullish.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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