MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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E-MINI S&P TECHS: (Z3) Clears Key Support

EQUITY TECHS
  • RES 4: 4514.50 High Sep 18
  • RES 3: 4479.38 Trendline resistance drawn from the Jul 27 high
  • RES 2: 4410.92/4430.50 50-day EMA / High Oct 12
  • RES 1: 4360.16 20-day EMA
  • PRICE: 4232.75 @ 14:30 BST Oct 23
  • SUP 1: 4215.25 Intraday low
  • SUP 2: 4194.75 Low May 24
  • SUP 3: 4166.25 1.50 proj of the Jul 27 - Aug 18 - Sep 1 price swing
  • SUP 4: 4134.00 Low May 4

S&P e-minis maintain a softer tone and the contract has started the week on a bearish note. Support at 4235.50, the Oct 4 low and bear trigger, has been breached. The break of this support confirms a resumption of the downtrend and opens 4197.75, the May 24 low. Price remains below resistance at the 50-day EMA, at 4410.92. A clear breach of this average is required to strengthen bullish conditions. Initial resistance is at 4360.16, the 20-day EMA.

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