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EUROSTOXX50 TECHS: Attempting A Recovery
*RES 4: 3700.00 Round number resistance
*RES 3: 3687.22 Jan 2018 high
*RES 2: 3665.64 0.764 projection of Aug 15 - Oct 1 rally from Oct 3 low
*RES 1: 3630.43 High Oct 17
*PRICE: 3606.89 @ Close Oct 23
*SUP 1: 3562.39 Low Oct 15
*SUP 2: 3531.23 Low Oct 14
*SUP 3: 3499.83 50-day EMA
*SUP 4: 3445.44 Low Oct 10
EUROSTOXX50 is attempting a recovery off recent lows to resume the uptrend. The
outlook remains bullish with the focus on 3665.64, 76.4% Fibonacci projection of
Aug 15 - Oct 1 rally from Oct 3 low. We are still monitoring a bearish warning
sign. The candle pattern on Oct 17 is a shooting star (inverted hammer)
formation suggesting a top in the trend has been identified. A breach of 3562.39
support would reinforce this threat to bulls. Until then, the trend remains up.