E-Mini S&Ps Trade Close to Recent Highs

The Eurostoxx 50 futures uptrend remains intact and the latest pullback is considered corrective. Price has traded through resistance at 4438.00, the Jun 16 high and a bull trigger. The break confirms a resumption of the primary uptrend and paves the way for gains towards 4472.40, a Fibonacci projection. Initial key support is seen at 4368.30, the 20-day EMA. A pullback would be considered corrective. A bull theme in S&P E-minis remains intact and last Friday’s gains reinforce this condition. The contract has pierced key resistance and the bull trigger at 4493.75, the Jun 16 high. A clear break of this level would confirm a resumption of the uptrend and pave the way for a climb towards 4532.08, a Fibonacci projection. On the downside, key trend support has been defined at 4368.50, the Jun 26 low.

• Japan's NIKKEI closed lower by 83.82 pts or -0.25% at 33338.7 and the TOPIX ended 0.34 pts lower or -0.01% at 2306.03.
• Elsewhere, in China the SHANGHAI closed lower by 22.402 pts or -0.69% at 3222.947 and the HANG SENG ended 305.3 pts lower or -1.57% at 19110.38.
• Across Europe, Germany's DAX trades lower by 80.06 pts or -0.5% at 15959.19, FTSE 100 lower by 38.79 pts or -0.52% at 7480.93, CAC 40 down 35.22 pts or -0.48% at 7334.71 and Euro Stoxx 50 down 24.31 pts or -0.55% at 4366.68.
• Dow Jones mini down 96 pts or -0.28% at 34541, S&P 500 mini down 12.75 pts or -0.28% at 4479.5, NASDAQ mini down 66.25 pts or -0.43% at 15298.75.