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EUROSTOXX50 TECHS: Correcting higher
*RES 4: 3459.90 61.8% retracement of the Jul 25-Aug 15 low
*RES 3: 3424.68 Low Jun 27
*RES 2: 3412.38 50-day EMA
*RES 1: 3380.81 High Aug 13 and key resistance
*PRICE: 3369.19 @ Close Aug 19
*SUP 1: 3332.93 Low Aug 19
*SUP 2: 3286.54 Low Aug 16
*SUP 3: 3239.20 Low Aug 15
*SUP 4: 3175.71 Low Feb 15
EUROSTOXX50 rallied sharply higher yesterday and is now approaching key
near-term resistance at 3380.81, the Aug 13 high. Gains follow recent bullish
candlestick formations in the shape of a hammer last Thursday and bullish
engulfing on Friday that warned of a base and signalling the potential for a
correction higher. A break of 3380.31 would open 3412.38, the 50-day EMA next.
Initial support lies at 3232.93, yesterday's low.