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Price Signal Summary - Stocks Remain In An Uptrend

MARKET INSIGHT
  • In the equity space, the trend outlook remains bullish. S&P E-minis are holding onto recent gains. A key support has been defined at 4029.25, May 13 low. A break of this level would risk a deeper pullback. While it holds, the trend remains up.
  • In the FX space, EURUSD recovered from last week's lows and remains above 1.1986, May 5 low. Key short-term support is 1.2052, May 13 low. The outlook is bullish while price remains above this support. GBPUSD is bullish following last week's gains. Attention is on 1.4237, Feb 24 high and this year's high. USDJPY support has been defined at 108.34, May 7 low. A bullish theme remains intact while it holds and attention is on 109.79, May 13 high. A break of support would highlight a trendline break drawn off the Jan 6 low and risk a deeper pullback.
  • On the commodity front, Gold is climbing and remains bullish. The focus is on $1875.7, Jan 29 high. Oil is well off recent highs but the uptrend remains intact. The Brent (N1) focus is on the psychological $70.00 level and $71.75, Jan 8 2020 high (cont). Watch key support at $63.09, May 3 low. WTI bulls are eyeing the key resistance at $67.29, Mar 8 high. Key near-term support is at $63.09, May 3 low
  • In the FI space, Bunds (M1) remain vulnerable and the risk is for a revisit of the 2020 lows at 167.52. A break of 168.59, May 13 low would trigger a resumption of the downtrend. Near-term risk in Gilts (M1) is still skewed to the downside. The key support and bear trigger is 126.79, Mar 18 low. BTPs (M1) remain in a clear downtrend and have extended lower. The focus is on 144.96, Sep 9, 2020 low (cont).
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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