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Price Signal Summary - S&P E-Minis Trend Condition Remains Bullish

OUTLOOK
  • In the equity space, the current trend condition in S&P E-Minis is remains bullish. Tuesday’s gains reinforce current conditions - the contract traded to a fresh cycle high. Sights are on 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Firm support lies at 4073.75, the 50-day EMA. Initial support to watch lies at 4113.07, the 20-day EMA. Short-term pullbacks are considered corrective.
  • EUROSTOXX 50 futures remain in an uptrend. Recent gains have reinforced the bullish significance of the break of 4268.00, the Mar 6 high and a former key resistance. The break confirmed a resumption of the trend and maintains the bullish price sequence of higher highs and higher lows. Sights are on 4381.50, the Jan 5 2022 high (cont). Initial firm support lies at 4240.60, the 20-day EMA.

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