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Price Signal Summary - Trend Needle In E-mini S&P Points South

OUTLOOK
  • In the equity space, bearish conditions in the E-mini S&P contract remain intact and short-term gains are considered corrective. Price is trading closer to its recent lows. Last Friday’s move lower resulted in a test of the 50-day EMA at 4464.19. A clear break of this average would expose 4456.29, the base of a bull channel drawn from the Mar 13 low. Clearance of this support would strengthen a bearish threat. Resistance to watch is 4560.75, Aug 4 high.
  • A bearish threat in EUROSTOXX 50 futures remains present following the recent reversal from 4513.00, the Jul 31 high. Short-term gains are considered corrective. Price remains below both the 20- and 50-day EMAs and attention is on support at 4276.00, the Aug 8 low. Clearance of this level would strengthen a bearish threat and expose 4220.00, the Jul 7 low. Initial firm resistance is 4420.00, Aug 10 high.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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