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This Week's Fresh Cycle Highs in E-Mini S&P Reinforces Uptrend

EQUITIES

Eurostoxx 50 futures trend conditions remain firm and the contract is holding on to its recent gains. Key resistance at 4634.00, the Dec 14 high, has recently been cleared. The break confirms a resumption of the medium-term uptrend and sights are on the 4700.00 handle next. Initial firm support lies at 4549.60, the 20-day EMA. Key trend support has been defined at 4402.00, the Jan 17 low. The uptrend in S&P E-Minis remains intact and this week’s fresh cycle highs, reinforces current conditions. Resistance at 4841.50, the Dec 28 high, has recently been cleared. This confirmed an extension of the price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode condition too, highlighting positive market sentiment. Sights are on 4982.62 next, a Fibonacci projection. Key support lies at 4753.05, the 50-day EMA.


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Eurostoxx 50 futures trend conditions remain firm and the contract is holding on to its recent gains. Key resistance at 4634.00, the Dec 14 high, has recently been cleared. The break confirms a resumption of the medium-term uptrend and sights are on the 4700.00 handle next. Initial firm support lies at 4549.60, the 20-day EMA. Key trend support has been defined at 4402.00, the Jan 17 low. The uptrend in S&P E-Minis remains intact and this week’s fresh cycle highs, reinforces current conditions. Resistance at 4841.50, the Dec 28 high, has recently been cleared. This confirmed an extension of the price sequence of higher highs and higher lows. Moving average studies remain in a bull-mode condition too, highlighting positive market sentiment. Sights are on 4982.62 next, a Fibonacci projection. Key support lies at 4753.05, the 50-day EMA.


Keep reading...Show less