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

  • In the equity space, S&P E-Minis have recovered from yesterday’s low - a positive development. Attention is on key S/T resistance at 4056.75, Jan 23 high. A break would confirm a resumption of recent bullish activity and signal scope for a climb towards 4100.00 and key resistance at 4180.00 further out, the Dec 13 high. The key short-term support to watch lies at 3901.75, the Jan 19 low.
  • EUROSTOXX 50 futures remain above support at 4097.00, the Jan 19 low. The trend outlook is bullish, however, the cycle remains overbought and this warns of the potential for a short-term corrective pullback. A move lower would open 4075.60, the 20-day EMA and a key near-term support. Key resistance and the bull trigger is at 4206.00, the Jan 18 high. A breach would resume the uptrend.

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