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Price Signal Summary - S&P Futures Remain Above Key Short-Term Support

OUTLOOK
  • In the equity space, S&P E-Minis have traded to a low of 4075.50 today. The contract has since found support and this leaves price above a key short-term level at 4068.75, the Apr 26 low. A break of this support would signal scope for a deeper short-term retracement. From a trend perspective, the condition is bullish - moving average studies are in a bull-mode position. Clearance of 4206.25, Tuesday’s high, would confirm a resumption of the trend.
  • A key short-term support in EUROSTOXX 50 futures at 4285.10 has been breached this week - the 20-day EMA. The recent move down is considered corrective for now. A continuation lower would signal scope for a deeper corrective pullback towards 4219.00, the 50-day EMA. On the upside, a break of 4363.00, the Apr 21 high and bull trigger, would confirm a resumption of the uptrend.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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