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Price Signal Summary - The EUROSTOXX50 Trend Needle Continues To Point North

OUTLOOK
  • In the equity space, a broader uptrend in S&P E-Minis remains intact and the contract is holding on to the bulk of its recent gains. The price has recently traded to fresh cycle highs, confirming a resumption of the uptrend. Recent corrections have been shallow - this also highlights a strong uptrend. The focus is on the psychological 5000.00 handle. Initial key short-term support has been defined at 4866.00, the Jan 31 low.
  • EUROSTOXX 50 futures remain firm and the contract has traded higher today and delivered a fresh cycle high. This reinforces the bullish importance of the recent break of a key resistance at the Dec 14 high of 4634.00. A clear breach of the 4700.00 handle would pave the way for a climb towards 4725.50, a 1.50 projection of the Nov 8 - 24 - 28 price swing. Initial firm support lies at 4586.80, 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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