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Bullish focus intact *RES 4:......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bullish focus intact
*RES 4: 3491.16 High Aug 1
*RES 3: 3473.00 High Aug 2
*RES 2: 3445.84 61.80% retracement of the Jul 25 - Aug 15 downleg
*RES 1: 3443.08 High Aug 30
*PRICE: 3420.74 @ Close Sep 3
*SUP 1: 3405.35/3406.55 High Aug 22 / Low Sep 3
*SUP 2: 3356.68 Low Aug 29
*SUP 3: 3318.33 Low Aug 26 and key near-term support
*SUP 4: 3286.54 Low Aug 16
EUROSTOXX50 maintains a bullish outlook following the recent impulsive gains off
the Aug 26 low. This resulted in a break of the former key short-term resistance
and Aug 22 high at 3405.35. Prices also extended gains above the 50-day EMA
reinforcing the bullish theme. With momentum conditions in a bull mode, further
upside is anticipated. Attention is on 61.8% of the decline between Jul 25 - Aug
15 at 3445.84 next. Support lies at 3406.55 ahead of 3356.68.

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