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TECHS: Price Signal Summary - E-mini S&P Holding Above Support

MARKET INSIGHT
  • In the equity space, S&P E-minis have pulled back from recent highs. Support levels to watch are; 4110.50, Apr 20 low and trendline support that intersects at 4108.75, drawn off the Mar 4 low. This support zone will likely determine the outcome of this correction - will it be a shallow one if support holds or develop into a deeper pullback on a break?
  • In FX, EURUSD is firmer today however a near-term bearish risk remains present. Last week the pair failed to confirm a clear break of the bear channel resistance drawn off the Jan 6 high. The subsequent sell-off is bearish. Watch support at, 1.2013/1989, the 20- and 50-day EMAs. This support zone has been probed, a clear break would open 1.1943, Apr 19 low. GBPUSD is consolidating. The pair remains below 1.4009, Apr 20 high. The break on Apr 30 of support at 1.3824, Apr 22 low highlights a bearish risk. The focus is on 1.3717, Apr 16 low. USDJPY maintains a bullish tone following last week's gains. Attention is on 109.96 next, Apr 9 high.
  • On the commodity front, the Gold outlook is bullish and the focus is on $1805.7, Feb 25 high. Watch key short-term support at $1756.2, Apr 29 low. The Brent (N1) uptrend remains intact. The focus is on the psychological $70.00 level and $71.75, Jan 8 2020 high (cont). WTI bulls are eyeing the key resistance at $67.29, Mar 8 high.
  • In the FI space, Bunds (M1) have recently breached 170.05, 76.4% of the Feb 25 - Mar 25 rally. This opens 169.24, Feb 25 low. Short-term gains are considered corrective. Short-term risk in Gilts is skewed to the downside. The next support and intraday bear trigger is at 127.32, Apr 1 low.
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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