Eurostoxx Futures Trade Just Ahead of Last Week's Lows

A bearish theme in Eurostoxx 50 futures remains in play and price is trading just ahead of its recent lows. The recent break of support at 4082.00, the Oct 4 low and a bear trigger, confirmed a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear-mode position too. The focus is on the 4000.00 handle. Initial firm resistance is at 4116.80, the 20-day EMA. S&P e-minis maintain a softer tone. The contract traded to a fresh cycle low last Friday and bears remain in the driver’s seat. Last week’s breach of support at 4235.50, Oct 4 low and bear trigger, confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear-mode position too. The focus is on 4100.00. Initial firm resistance is at 4285.39, the 20-day EMA.

• Japan's NIKKEI closed higher by 161.89 pts or +0.53% at 30858.85 and the TOPIX ended 22.48 pts higher or +1.01% at 2253.72.
• Elsewhere, in China the SHANGHAI closed lower by 2.782 pts or -0.09% at 3018.771 and the HANG SENG ended 293.88 pts lower or -1.69% at 17112.48.
• Across Europe, Germany's DAX trades higher by 48.25 pts or +0.33% at 14764.41, FTSE 100 higher by 7.61 pts or +0.1% at 7334.93, CAC 40 up 28.27 pts or +0.41% at 6853.34 and Euro Stoxx 50 up 13.59 pts or +0.34% at 4041.91.
• Dow Jones mini up 54 pts or +0.16% at 33069, S&P 500 mini down 1.75 pts or -0.04% at 4184, NASDAQ mini down 36 pts or -0.25% at 14380.5.