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Downtrend Would Intensify Below...>

EUROSTOXX50 TECHS: Downtrend Would Intensify Below 3000
*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: 3126.50 21-dma 
*SUP 1: 3000.00 Support 
*SUP 2: 2984.48 Low Dec 2 2016 
*SUP 3: 2678.27 Low Jul 1 2016 
*SUP 4: 2494.54 Low May 24, 2013 
The downtrend in Eurostoxx looks set to intensify should recent weakness extend
through the 3000 level. Rallies are becoming increasingly shallow warning off
further losses towards the Dec 2016 lows at 2984.48. Bulls need to take out the
21-dma now at 3126.50 to improve the outlook, above which would allow a
challenge of down trendline resistance to target the Nov 8 highs at 3230.00.

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