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22/55-DMAs Need To Hold For The...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: 22/55-DMAs Need To Hold For The Bulls
*RES 4: 3540.64 High June 15 
*RES 3: 3536.87 High July 31 
*RES 2: 3514.78 High August 7 
*RES 1: 3486.31 High August 10 
*PREVIOUS CLOSE: 3447.57 
*SUP 1: 3404.87 Low August 22 
*SUP 2: 3349.14 Low August 15 
*SUP 3: 3340.85 Low June 27 
*SUP 4: 3331.53 200-WMA 
Eurostoxx 50 edged lower yesterday, closing on its low just ahead of the 21 and
55-dmas, which bulls will look to defend to keep the recovery intact and
challenge the Aug 10 high of 3486.31. Above here would bring down trendline
support from the Jan peak into play. Failure to hold above the 21 and 55-dmas
would allow bears to eye the Aug 22 low at 3404.87, and below here would shift
the focus back to the Aug 15 low and beyond.

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