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Developing Bearish Theme *RES.....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Developing Bearish Theme
*RES 4: 3012.45 50-day EMA
*RES 3: 2998.65 High Mar 11
*RES 2: 2956.22 High Apr 14 and bull trigger
*RES 1: 2889.57 High Apr 21
*PRICE: 2852.46 @ Close Apr 23
*SUP 1: 2791.34 Low Apr 21 and intraday bear trigger
*SUP 2: 2701.86 Low Apr 6
*SUP 3: 2626.10 Low Apr 2 and key support
*SUP 4: 2427.87 Low Mar 23
EUROSTOXX 50 is unchanged. The index stalled at 2956.22 on Apr 14 and suffered a
strong pullback on Apr 15. The move lower, a bearish engulfing candle, warns of
a top and has defined a key S/T resistance at 2956.22. Tuesday's sell-off also
highlights a developing bearish theme. Support at 2792.17, Apr 16 low has been
breached exposing 2701.86 and 2626.10, Apr 6 and Apr 2 lows respectively. A
breach of 2956.22 is required to reinstate a bullish theme.

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