(M2) Still In Bear Mode

• RES 4: 4132.00 High Feb 10
• RES 3: 4072.00 High Feb 16
• RES 2: 3944.00 High Mar 29 and a key resistance
• RES 1: 3784.90/3883.00 50-day EMA / High Apr 21
• PRICE: 3638.00 @ 05:46 BST May 6
• SUP 1: 3608.00 Low Apr 27 and the bear trigger
• SUP 2: 3551 60 61.8% retracement of the Mar 7 - 29 rally
• SUP 3: 3523.00 Low Mar 11
• SUP 4: 3458.90 76.4% retracement of the Mar 7 - 29 rally

EUROSTOXX 50 futures remain in a bear mode. Recent short-term gains are considered corrective and support remains exposed. A bearish theme follows the reversal from the Apr 21 high of 3883.00 and note that price remains below the 50-day EMA. The breach, on Apr 25, of support at 3684.00, Apr 12 low, has also reinforced a bearish condition. Resistance to watch is; 3784.90, the 50-day EMA and 3883.00, the Apr 21 high. The bear trigger is 3608.00.