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Price Signal Summary - Uptrend In S&P E-Minis Remains Intact

OUTLOOK
  • In the equity space, S&P E-Minis maintains a bullish tone. Price has recently breached resistance at 4119.50, reinforcing bullish conditions. The move higher has also resulted in a break of 4148.48, 76.4% of the Feb 2 - Mar 13 downleg. This signals scope for an extension towards 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Firm support lies at 4036.58, the 50-day EMA.
  • EUROSTOXX 50 futures maintain a firmer tone. The contract traded higher last week and is holding on to the bulk of its latest gains. Price has pierced resistance at 4268.00, the Mar 6 high and a key hurdle for bulls. A clear break of this level would strengthen bullish conditions and open 4300.00 next. Initial firm support lies at 4166.50, the 20-day EMA.
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