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Eurostoxx Futures Target Key 3678.00 Resistance Level

EQUITIES

A bullish EUROSTOXX 50 futures theme remains intact and the contract is trading at this week’s highs. Resistance at 3678.00, the Sep 13 high has been pierced. A clear break of this level would strengthen bullish conditions and pave the way for gains above the 3700.00 level. The next key resistance is at 3810.00, the Aug 17 high. Firm support is seen at the 50-day EMA. The S&P E-Minis trend condition remains bullish and last Friday’s resumption of the short-term uptrend has reinforced current conditions. Last week’s extension higher resulted in a break of 3820.00, Oct 5 high. Furthermore, price is again above the 50-day EMA, at 3836.32. Sights are on 3981.25, the Sep 14 high. Key short-term support has been defined at 3641.50, the Oct 21 low. Initial firm support to watch is at 3757.50, the Oct 27 low.


  • Japan's NIKKEI closed lower by 15.53 pts or -0.06% at 27663.39 and the TOPIX ended 1.96 pts higher or +0.1% at 1940.46.
  • Elsewhere, in China the SHANGHAI closed higher by 34.171 pts or +1.15% at 3003.37 and the HANG SENG ended 371.9 pts higher or +2.41% at 15827.17.
  • Across Europe, Germany's DAX trades higher by 49.82 pts or +0.37% at 13394.47, FTSE 100 higher by 12.41 pts or +0.17% at 7198.53, CAC 40 up 47.68 pts or +0.75% at 6374.33 and Euro Stoxx 50 up 22.51 pts or +0.62% at 3674.62.
  • Dow Jones mini up 74 pts or +0.23% at 32767, S&P 500 mini up 12.5 pts or +0.32% at 3879.5, NASDAQ mini up 48 pts or +0.42% at 11383.
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