Eurostoxx Futures Target 4300.00 Resistance Handle

Eurostoxx 50 futures traded higher last week and the contract is holding on to its latest gain. Price has pierced resistance at 4268.00, the Mar 6 high and a key hurdle for bulls. A clear break of this level would strengthen bullish conditions and open 4300.00 next. Moving average studies are in a bull-mode set-up and this highlights a broader uptrend. Initial firm support lies at 4156.40, the 20-day EMA. S&P E-minis maintains a bullish tone and the contract traded higher Monday. Price has breached resistance at 4119.50, reinforcing bullish conditions. The move higher has also resulted in a breach of 4148.48, 76.4% of the Feb 2 - Mar 13 downleg. This signals scope for an extension towards 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Firm support lies at 4032.81, the 50-day EMA.

• Japan's NIKKEI closed higher by 99.27 pts or +0.35% at 28287.42 and the TOPIX ended 5.08 pts higher or +0.25% at 2022.76.
• Elsewhere, in China the SHANGHAI closed higher by 16.162 pts or +0.49% at 3312.558 and the HANG SENG ended 113.25 pts lower or -0.55% at 20301.05.
• Across Europe, Germany's DAX trades higher by 35.42 pts or +0.23% at 15618.51, FTSE 100 higher by 23.41 pts or +0.31% at 7699.9, CAC 40 up 9.52 pts or +0.13% at 7358.57 and Euro Stoxx 50 up 5.03 pts or +0.12% at 4317.4.
• Dow Jones mini down 26 pts or -0.08% at 33762, S&P 500 mini down 3.25 pts or -0.08% at 4151.25, NASDAQ mini down 29.5 pts or -0.22% at 13243.75.