Tuesday Price Action Reinforces Bullish E-Mini S&P Conditions; Sights on 4205.50

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Eurostoxx 50 futures remain in an uptrend. Recent gains have reinforced the bullish significance of the break of 4268.00, the Mar 6 high and a former key resistance. The break confirmed a resumption of the trend and maintains the bullish price sequence of higher highs and higher lows. Sights are on 4381.50, the Jan 5 2022 high. Initial firm support lies at 4240.60, the 20-day EMA. The trend outlook in S&P E-minis remains bullish and Tuesday’s gains reinforce current conditions. The contract traded to a fresh cycle high yesterday and is approaching the 4200.00 handle. Sights are on 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Firm support lies at 4073.75, the 50-day EMA. Initial support to watch lies at 4113.07, the 20-day EMA.

• Japan's NIKKEI closed lower by 52.07 pts or -0.18% at 28606.76 and the TOPIX ended 0.51 pts lower or -0.03% at 2040.38.
• Elsewhere, in China the SHANGHAI closed lower by 23.203 pts or -0.68% at 3370.128 and the HANG SENG ended 282.84 pts lower or -1.37% at 20368.59.
• Across Europe, Germany's DAX trades lower by 33.99 pts or -0.21% at 15847.63, FTSE 100 lower by 18.74 pts or -0.24% at 7890.83, CAC 40 down 1.07 pts or -0.01% at 7531.86 and Euro Stoxx 50 down 11.02 pts or -0.25% at 4382.61.
• Dow Jones mini down 95 pts or -0.28% at 34028, S&P 500 mini down 14.75 pts or -0.35% at 4165.25, NASDAQ mini down 69 pts or -0.52% at 13123.25.