ITALY DATA: Retail Sales See Modest Rebound In October, Tepid Trend Remains

BTP Block trade, suggest buyer:

• IKZ5 ~1.1k at 121.27.

• In the equity space, the trend condition in S&P E-Minis is unchanged, it remains bullish and the latest pullback appears corrective. Support at the 20-day EMA, at 6803.81, has been breached. A clear break of this average signals scope for a deeper retracement and exposes the 50-day EMA at 6702.18 - a key pivot support. The bull trigger has been defined at 6953.75, the Oct 30 high. Clearance of this hurdle would confirm a resumption of the uptrend.
• Recent weakness in EUROSTOXX 50 futures appears to have been corrective. The contract has found support ahead of the 50-day EMA, at 5571.03. Support below the EMA lies at 5555.00, the base of a bull channel drawn from the Aug 1 low. A breach of this level and the 50-day EMA, is required to highlight a stronger reversal. Sights are on resistance and the bull trigger at 5742.00, the Oct 29 high.

0NU6 96.80/97.10cs vs 0NU6 96.30/96.00ps, bought the cs for -0.25 and flat in 7.5k.