EUROSTOXX 50 TECHS: (Z1) Sharp Bearish Retracement

• RES 4: 4420.80 1.382 proj of the Jul 19 - Sep 6 - Oct 6 price swing
• RES 3: 4409.50 High Nov 18 and the bull trigger
• RES 2: 4304.50 Nov 24 high
• RES 1: 4237.60 50-day EMA
• PRICE: 4142.50.00 @ 09:28 GMT Nov 26
• SUP 1: 4093.00 76.4% retracement of the Oct - Nov rally
• SUP 2: 4004.00 Low Oct 12
• SUP 3: 3949.50 Low Oct 6 and bear trigger
• SUP 4: 3882.00 Low Jul 19

EUROSTOXX 50 futures have traded sharply lower today. Today's sharp sell-off has resulted in a break of Wednesday's low of 4236.50 and more importantly a breach of the 50-day EMA. This signals scope for a deeper decline and attention is on 4058.10, a Fibonacci retracement where a break would expose the key support at 6949.50, the Oct 6 low. On the upside, a move above 4304.50, the Nov 24 high is required to ease bearish pressure.