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

OUTLOOK
  • In the equity space S&P E-Minis are unchanged and maintain a firmer tone. The contract traded sharply higher last Tuesday and is holding on to its recent gains. Resistance at 4411.88, a trendline drawn from the Jul 27 high, has been cleared. This reinforces bullish conditions and signals scope for a climb towards 4552.38, the 76.4% retracement of the Jul 27 - Oct 27 bear leg. On the downside, initial firm support is seen at 4400.39, the 20-day EMA.
  • A short-term bull cycle in EUROSTOXX 50 futures remains intact and the contract is holding on to last week’s gains. Price has recently cleared resistance at both the 20- and 50-day EMAs - a bullish development. Note that last Tuesday’s gains resulted in a breach of resistance at 4256.00, the Oct 12 high, reinforcing the bullish theme The focus is on 4359.00, the Sep 15 high. Initial firm support to watch is at 4215.70, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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