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Defines Support *RES 4: 3085.06...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Defines Support
*RES 4: 3085.06 50.0% retracement of the Feb - Mar sell-off
*RES 3: 3023.83 High Apr 30 and the bull trigger
*RES 2: 2940.75 50-day EMA
*RES 1: 2927.26 High May 11 and key resistance
*PRICE: 2911.88 @ Close May 18
*SUP 1: 2800.07 Low May 18
*SUP 2: 2708.07 Low May 14
*SUP 3: 2701.86 Low Apr 6
*SUP 4: 2663.33 50.0% retracement of the rally between Mar 16 - Apr 30
A strong rally yesterday in EUROSTOXX 50 has defined a key near-term support at
2708.07, May 14 low. The recovery from this support has for now at least, offset
recent bearish threats and attention turns to immediate resistance at 2927.26,
May 11 high. A break of this level would reinforce S/T bullish conditions and
open key resistance at 3023.83, Apr 30 high. A failure to hold onto current
highs and a break of 2708.07 would instead reinstate a bearish theme.

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