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Price Signal Summary - S&P E-Minis Remains Below Key Short-Term Resistance

OUTLOOK
  • In the equity space, a key short-term resistance S&P E-Minis has been defined at 4035.25, the Jan 17 high. Price has traded below the 50-day EMA - a clear break of the average, currently at 3933.04, would strengthen a bearish threat and expose 3891.50, the Jan 10 low. On the upside, the contract needs to clear 4035.25 to resume recent bullish activity.
  • The broader trend outlook for EUROSTOXX 50 futures remains bullish, however, the cycle is overbought and this warns of the potential for a short-term pullback. A move lower would allow the overbought reading to unwind. This would open 4046.30, the 20-day EMA and a key near-term support. Key short-term resistance and the bull trigger is at 4206.00, the Jan 18 high.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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