E-Mini S&P Futures Pierce 4073.75 Mar 22 Resistance Level

Eurostoxx 50 futures traded higher Wednesday. The contract has cleared resistance at 4164.00, the Mar 22 high. This cancels a recent bearish threat and confirms a resumption of the bull cycle that started Mar 20. A continuation higher would open key resistance at 4268.00, Mar 6 high. Moving average studies are in a bull-mode set-up and this suggests the broader uptrend is intact. Initial firm support lies at 4034.00, the Mar 24 low. S&P E-Minis traded higher Wednesday and the contract has once again moved to levels above the 50-day EMA. The average intersects at 4021.12. Attention is on resistance at 4073.75, the Mar 22 high. A break of this hurdle would strengthen bullish conditions and signal scope for a climb towards 4119.50, the Mar 6 high. On the downside, key short-term support lies at 3937.00, the Mar 24 low. A break of this support would be bearish.

• Japan's NIKKEI closed lower by 100.85 pts or -0.36% at 27782.93 and the TOPIX ended 12.16 pts lower or -0.61% at 1983.32.
• Elsewhere, in China the SHANGHAI closed higher by 21.192 pts or +0.65% at 3261.249 and the HANG SENG ended 116.73 pts higher or +0.58% at 20309.13.
• Across Europe, Germany's DAX trades higher by 156.95 pts or +1.02% at 15486.46, FTSE 100 higher by 32.26 pts or +0.43% at 7594.75, CAC 40 up 66.99 pts or +0.93% at 7254.4 and Euro Stoxx 50 up 42.52 pts or +1% at 4273.9.
• Dow Jones mini up 139 pts or +0.42% at 33046, S&P 500 mini up 16.75 pts or +0.41% at 4074.5, NASDAQ mini up 35 pts or +0.27% at 13001.5.