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Downtrend Established *RES 4:....>

EUROSTOXX50 TECHS: Downtrend Established 
*RES 4: 3540.64 High June 15 
*RES 3: 3536.87 High July 31 
*RES 2: 3514.78 High August 7 
*RES 1: 3435.12 High August 14 
*SUP 1: 3349.14 Low August 15 
*SUP 2: 3340.85 Low June 27 
*SUP 3: 3331.53 200-WMA 
*SUP 4: 3306.66 Low February 18 
With last week's break below up trendline support, a new downtrend has been
established, with any break of the August 15 low likely to see downside momentum
gather pace. A further break below the 200-wma would open the way towards the
March lows at 3261.86. With momentum indicators remaining negative, corrective
rebounds will need to convincingly rally above the weekly highs of 3435.12 to
change the broader picture.

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