EuroStoxx 50 Pullback Exposes Key Support

The E-mini S&P contract maintains a firmer tone and the contract is trading closer to its recent highs. Price has traded above resistance at 4537.06, the base of a bull channel, drawn from the Mar 13 low that was breached on Aug 16. Eurostoxx 50 futures have pulled back from their recent highs. A continuation lower would expose support at 4225.00, the Aug 24 low. Clearance of this level would signal scope for a test of the key support at 4187.00, the Aug 18 low and bear trigger.

• Japan's NIKKEI 225 closed higher by 204.26 pts or +0.62% at 33241.02 and the TOPIX ended 14.68 pts higher or +0.62% at 2392.53.
• Elsewhere, in China the SHANGHAI closed higher by 3.708 pts or +0.12% at 3158.077 and the HANG SENG ended 6.93 pts lower or -0.04% at 18449.98.
• Across Europe, Germany's DAX trades lower by 39.34 pts or -0.25% at 15732.11, FTSE 100 lower by 50.65 pts or -0.68% at 7386.9, CAC 40 down 46.61 pts or -0.64% at 7207.94 and Euro Stoxx 50 down 19.67 pts or -0.46% at 4249.12.
• Dow Jones mini down 40 pts or -0.12% at 34637, S&P 500 mini down 10.75 pts or -0.24% at 4492, NASDAQ mini down 54.75 pts or -0.35% at 15479.25.