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Fails to Sustain Break Above......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Fails to Sustain Break Above 21-dma
*RES 4: 3412.98 61.8% retracement 3514.62-3248.54
*RES 3: 3401.49 55-dma
*RES 2: 3380.85 High May 28
*RES 1: 3370.80 Weekly High
*PRICE: 3335.93 @ Close June 6
*SUP 1: 3317.87 5-dma
*SUP 2: 3248.54 Low June 3
*SUP 3: 3211.92 50% retracement 2908.70-3514.62
*SUP 4: 3140.16/3124.62 61.8% retracement 2908.70-3514.62/Low Feb 8
The index got a decent boost in the initial reaction to the ECB rate decision,
briefly showing above the 21-dma before erasing the day's gains and closing in
the red. This failed break higher turns focus to nearby support at the 5-dma
(3317.87) and the June 3rd low (3248.54). This comes in the wake of the hammer
reversal bullish candlestick pattern on Monday along with bullish divergence
signals on daily slow-stochastics & 14-day RSI studies.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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