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Focus Shifts To The Downside......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Focus Shifts To The Downside
*RES 4: 3544.00 Daily bear channel top 
*RES 3: 3540.64 High June 15 
*RES 2: 3536.87 High July 31 
*RES 1: 3501.66 200-DMA 
*PREVIOUS CLOSE: 3593.60
*SUP 1: 3479.42 21-DMA 
*SUP 2: 3457.74 55-DMA 
*SUP 3: 3413.95 Low July 20 
*SUP 4: 3418.06 Low July 12 
After dropping back below the 200-dma yesterday, focus now returns to the
downside with the the 21-dma, currently at 3479.42 likely to act as key support.
A close below here would confirm the failure of the market to establish a higher
high, shifting the focus down to the 55-dma. Bulls need to break above the July
31 highs and the daily bear channel top which comes in at around 3544.00 to
shift the outlook bullish. 

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