• In the equity space, S&P E-Minis traded higher Monday, starting the week on a bullish note and the contract remains firm today. The break higher confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows, marking an extension of the bull cycle that started in October 2022. The Focus is on a climb towards 4427.79, a Fibonacci projection. Initial firm support is at 4279.15, the 20-day EMA.
  • EUROSTOXX 50 futures attention is on resistance at 4362.00, the May 29 high. Clearance of this level would be a bullish development and signal scope for an extension higher towards key resistance at 4409.50, the Nov 18 2021 high on the continuation chart. The recent break of a number of support levels still highlights a potential bearish threat. A reversal lower would expose 4216.00, May 31 low and bear trigger.

OUTLOOK: Price Signal Summary - S&P E-Minis Bull Cycle Extends

Last updated at:Jun-13 09:50By: Taso Anastasiou
  • In the equity space, S&P E-Minis traded higher Monday, starting the week on a bullish note and the contract remains firm today. The break higher confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows, marking an extension of the bull cycle that started in October 2022. The Focus is on a climb towards 4427.79, a Fibonacci projection. Initial firm support is at 4279.15, the 20-day EMA.
  • EUROSTOXX 50 futures attention is on resistance at 4362.00, the May 29 high. Clearance of this level would be a bullish development and signal scope for an extension higher towards key resistance at 4409.50, the Nov 18 2021 high on the continuation chart. The recent break of a number of support levels still highlights a potential bearish threat. A reversal lower would expose 4216.00, May 31 low and bear trigger.

MNI Podcasts

Unearthing fresh policy thinking & market intelligence.

Copyright 2024Twitter, Xlinkedin logo