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Price Signal Summary - S&P E-Minis Trend Needle Still Points North

OUTLOOK
  • In the equity space, S&P E-Minis remains bullish and the contract is holding on to the bulk of its recent gains. Last week’s strong gains resulted in a break of resistance at 3928.00, Nov 1 high. This strengthens a short-term bullish condition and price has established a sequence of higher highs and higher lows on the daily scale. The focus is on 4100.00 next. Key short-term support is at 3704.25, the Nov 3 low. Initial firm support lies at 3848.65, the 50-day EMA.
  • A bullish EUROSTOXX 50 futures outlook remains intact. Price is consolidating but importantly, the contract remains at its recent highs. Resistance at 3810.00, Aug 17 high and an important bull trigger, has been breached. Moving average studies are in a bull mode set-up and this highlights positive market sentiment. The focus is on 3944.00, Mar 29 high (cont). Initial firm support lies at 3697.00, the Nov 10 low. First support is 3810.00, the Aug 17 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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