Eurostoxx Futures Eye Gains Above 4300.00 Level After Trading to Fresh Trend High Tuesday

Eurostoxx 50 futures maintained a firmer tone Tuesday and the contract traded to a fresh trend high of 4299.00. Price has recently breached resistance at 4268.00, the Mar 6 high and a key hurdle for bulls. The break of this level strengthens bullish conditions with sights on gains above 4300.00. Moving average studies are in a bull-mode set-up and this highlights a broader uptrend. Initial firm support lies at 4190.60, the 20-day EMA. S&P E-minis remain in an uptrend and the contract is trading closer to its early April highs. Price has recently breached resistance at 4119.50, Mar 6 high, reinforcing a bullish theme. The move higher has also resulted in a break of 4148.48, 76.4% of the Feb 2 - Mar 13 downleg. This signals scope for an extension to 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key M/T resistance. Firm support lies at 4053.89, the 50-day EMA.

• Japan's NIKKEI closed higher by 159.33 pts or +0.57% at 28082.7 and the TOPIX ended 15.07 pts higher or +0.76% at 2006.92.
• Elsewhere, in China the SHANGHAI closed higher by 13.611 pts or +0.41% at 3327.182 and the HANG SENG ended 190.75 pts lower or -0.93% at 20294.43.
• Across Europe, Germany's DAX trades higher by 40.64 pts or +0.26% at 15695.94, FTSE 100 higher by 31.37 pts or +0.4% at 7816.99, CAC 40 up 23.67 pts or +0.32% at 7413.95 and Euro Stoxx 50 up 3.11 pts or +0.07% at 4336.4.
• Dow Jones mini up 50 pts or +0.15% at 33905, S&P 500 mini up 2.5 pts or +0.06% at 4139.25, NASDAQ mini down 13 pts or -0.1% at 13062.25.