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Deadcat Bounce *RES 4: 3486.31....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Deadcat Bounce
*RES 4: 3486.31 High Aug 10
*RES 3: 3452.41 High Sep 27
*RES 2: 3230.00 Down trendline resistance form Oct 26 high
*RES 1: 3110.37 21-dma
*PRICE: 2994.93 @ 14:59 GMT Dec28
*SUP 1: 2892.52 Aug3 2016 Low
*SUP 2: 2847.54 3% Lower Bollinger Band
*SUP 3: 2678.27 Low Jul 1 2016
*SUP 4: 2494.54 Low May 24, 2013
Prices bounced from the cycle lows printed Thursday but remain well off staging
a more substantial recovery. To repair the damage here, prices need to first top
the 21-dma before eyeing 3128, the mid-December high - which looks pretty
unrealistic in the coming few weeks. The recent fall took out both the channel
bottom and Nov 2016 lows, leaving little near-term support heading into the new
year.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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