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55-DMA Still Capping *RES 4:......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: 55-DMA Still Capping
*RES 4: 3514.62 High Apr 30
*RES 3: 3438.56 High May 16
*RES 2: 3418.18 High June 11
*RES 1: 3405.25/3412.98 55-dma, 61.8% retracement 3514.62-3248.54
*PRICE: 3386.63 @ Close June 12
*SUP 1: 3359.50 21-dma
*SUP 2: 3248.54 Low June 3
*SUP 3: 3211.92 50% retracement 2908.70-3514.62
*SUP 4: 3140.16/3124.62 61.8% retracement 2908.70-3514.62/Low Feb 8
The 55-dma is capping but 21-dma at 3359.50 provides initial support. A decisive
break above the 55-dma is seen extending retracement higher to 3412.98 - 61.8%
Fibonacci of 3514.62-3248.54 move. Failure to sustain a decisive break above the
55-dma is likely to see momentum begin to wane.

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