Developing Bearish Theme Still....>

EUROSTOXX50 TECHS: Developing Bearish Theme Still In Play

*RES 4: 3004.47 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: 2809.07 @ Close Apr 24

*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 stalled at 2956.22 on Apr 14. The move lower on Apr 15, a bearish

engulfing candle, warns of a top and has defined a key S/T resistance at

2956.22. Furthermore, the sell-off on Apr 21 also highlights a developing

bearish theme. The trigger for a resumption of weakness is at 2791.34, Apr 21

low where a break would expose 2701.86 and 2626.10, Apr 6 and Apr 2 lows

respectively. A breach of 2956.22 would reinstate a bullish theme.