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Capped On Approach To 55-DMA .....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Capped On Approach To 55-DMA 
*RES 4: 3497.29 High Aug 16 
*RES 3: 3495.20 55-DMA, Bear channel top 
*RES 2: 3484.66 High Aug 17 
*RES 1: 3467.78 High Aug 23
*PREVIOUS CLOSE: 3438.63
*SUP 1: 3432.05 Low Aug 23 
*SUP 2: 3412.87 Bollinger band base 
*SUP 3: 3410.02 Low Aug 21 
*SUP 4: 3399.34 200-DMA
*COMMENTARY: The index managed a pop above the 21-DMA (3464.98) Wednesday but
follow through remains lacking on approach to the 55-DMA & bear channel top and
3495.20-3539.48 region as a whole. Bulls look for a close above 3539.48 to end
bearish hopes and initially target 3615.06 June highs. The 3390.04-3411.06
support region is key. Bears need a close below to confirm a break of the
200-DMA and initially focus on 3335.77-3355.40.

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