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Clears Key Resistance *RES 4:.....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Clears Key Resistance
*RES 4: 3269.66 61.8% retracement of the Feb - Mar sell-off
*RES 3: 3214.20 High Mar 9
*RES 2: 3085.06 50.0% retracement of the Feb - Mar sell-off
*RES 1: 3067.35 High May 27
*PRICE: 3051.08 @ Close May 27
*SUP 1: 2854.07 Low May 22 and key near-term support
*SUP 2: 2800.07 Low May 18
*SUP 3: 2708.07 Low May 14 and bear trigger
*SUP 4: 2701.86 Low Apr 6
EUROSTOXX 50 traded higher again yesterday, this time clearing key resistance at
3023.83, Apr 30 high to confirm a resumption of the uptrend that has been in
place since the Mar 16 low. The break higher paves the way for strength towards
3085.06 next, 50.0% retracement of the Feb - Mar decline. Further out, scope is
seen for a climb towards the 3200 handle. Momentum studies are firm reinforcing
bullish conditions. Support lies at 2854.07, May 22 low.

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