Markets taking a pause after gains over the past week in the Chinese Market

$E-mini S&P 500 Futures(MAR5) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ *]View unchanged as technical elements still intact. We maintain our bullish directional bias for now, expecting price to pause above 5700 support before shaping a push higher towards 5945 resistance. Technical indicators are advocating for a bullish scenario as well.

$USD (USDindex.FX)$ (4 Hour Chart) -[BEARISH ↘ *]DXY pushed higher and is approaching 101.920 swing high resistance. We turn bearish with low conviction for now, expecting price to pullback lower towards 101.145 support. Technical indicators are mixed as well.

$Gold Futures(FEB5) (GCmain.US)$ (4 Hour Chart) -[NEUTRAL]View unchanged as gold prices are still consolidating within a range. We maintain our neutral stance as price continues to trade between 2690.50 resistance and 2665.40 support level. A candlestick close above 2690.50 will open a limited rise towards 2708.80 resistance. Technical indicators are mixed for now with no clear directional momentum.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[NEUTRAL]View unchanged as NIKKEI still consolidating within a range. We stay neutral for now as price continues to trade between 39240 resistance and 36815 support. A 4 hour candlestick closing above 39240 resistance. Technical indicators are leaning towards a bearish momentum.

$HSI Futures(DEC4) (HSImain.HK)$ (4 Hour Chart) -[BULLISH↗ *]We continue our bullish directional bias as we expect price to hold above 21500 support level. We expect price to drift towards 22800 resistance level. Technical indicators are displaying a bullish momentum.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ **]As price is holding above 3570 support level, we turn bullish as we expect price to drift towards 3640 resistance level. Technical indicators are mixed for now, with MACD displaying a bullish momentum.Alternatively: A 4 hour candlestick closing below 3590 support level will open a drop towards 3530 support level.

US markets closed mixed last night, with $E-mini S&P 500 Futures(MAR5) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(MAR5) (NQmain.US)$ drifting marginally higher by 0.01% and 0.17%. This is due to investors turning their attention to the rally in the Chinese markets. However, traders continue to stay cautious and are monitoring the ongoing geopolitical developments in the Middle East. Traders should keep an eye out for initial jobless claims, s&p global services PMI and ISM non-manufacturing PMI data out tonight.

Asian markets open mixed as well, with $Nikkei 225 (.N225.JP)$ climbing the highest by 2.65%. This is due to the weakening of the JPY after Prime Minister Ishiba's comments on Japan not being ready for future interest rate hikes. $HSI Futures(DEC4) (HSImain.HK)$ edged lower by 0.88%. This pause is driven by investors taking profits after a strong sustained rally. $JD HEALTH (06618.HK)$ and $BIDU-SW (09888.HK)$ pushed lower the most by 10.88% and 6.34% respectively. Traders should should trade with caution as rally takes a pause. $FTSE Singapore Straits Time Index (.STI.SG)$ drifted higher by 0.20%, after manufacturing PMI data rising from the previous month. $Keppel (BN4.SG)$ and $Seatrium Ltd (5E2.SG)$ climbed the most by 1.21% and 1.14% respectively.

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