Eurostoxx Futures Print Fresh 9-Month High

A bullish EUROSTOXX 50 futures outlook remains intact and the contract traded higher Tuesday. This maintains the recovery that started in early October and marks an extension of the bullish price sequence of higher highs and higher lows. The recent break of resistance at 3810.00, Aug 17 high, strengthened the case for bulls. The focus is on 3961.20, a Fibonacci retracement. Initial firm support lies at 3697.00, the Nov 10 low. The S&P E-Minis outlook remains bullish. Recent consolidation in the daily chart appears to be a bull flag formation - a continuation pattern. This reinforces a bull theme. Furthermore, recent gains resulted in a break of 3928.00, Nov 1 high, establishing a positive price sequence of higher highs and higher lows. The focus is on 4100.00 next. Initial firm support lies at 3865.69, the 50-day EMA.

• In China the SHANGHAI closed higher by 7.964 pts or +0.26% at 3096.907 and the HANG SENG ended 99.4 pts higher or +0.57% at 17523.81.
• Across Europe, Germany's DAX trades lower by 16 pts or -0.11% at 14385.81, FTSE 100 higher by 40.51 pts or +0.54% at 7486.95, CAC 40 up 1.46 pts or +0.02% at 6647.83 and Euro Stoxx 50 up 3.63 pts or +0.09% at 3928.63.
• Dow Jones mini up 21 pts or +0.06% at 34143, S&P 500 mini up 3.5 pts or +0.09% at 4013, NASDAQ mini up 5 pts or +0.04% at 11752.5.