November 25, 2022 10:36 GMT
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income NewsForeign Exchange News
- In the equity space, S&P E-Minis remain firm but price is still trading just below its recent high of 4050.75 on Nov 15. The outlook is bullish. A recent period of consolidation in the daily chart appears to be a bull flag - a continuation pattern. This reinforces the uptrend as did the recent break of 3928.00, Nov 1 high, establishing a positive price sequence of higher highs and higher lows on the daily chart. The focus is on 4100.00 next. Initial firm support lies at 3877.69, the 50-day EMA.
- A bullish EUROSTOXX 50 futures outlook remains intact and the contract is trading closer to its recent highs. This week’s move higher maintains the recovery that started in early October and marks an extension of the bullish price sequence of higher highs and higher lows. The focus is on the 4000.00 psychological handle next. Initial firm support lies at 3840.00, the Nov 17 low.