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Recovery Intact But Lacks.........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Recovery Intact But Lacks Conviction
*RES 4: 3514.78 High August 7 
*RES 3: 3486.31 High August 10 
*RES 2: 3462.81 High August 28 
*RES 1: 3349.14 Low August 15, now resistance 
*PREVIOUS CLOSE: 3344.63 
*SUP 1: 3261.86 Low March 26 
*SUP 2: 3214.31 Low February 8 2017 
*SUP 3: 3175.00 Bear channel bottom 
*SUP 4: 2984.48 Low December 2 2016 
Despite clocking up five consecutive up days last week, keeping the recovery
from the Sep 7 low intact, the rally lacks conviction having so far failed to
recover the Aug 15 lows at 3349.14. A close above here is needed to challenge
the Aug 28 high at 3462.81 and open up down trendline resistance. Below here,
the broader trend remains bearish with the March 26 low of 3261.86 remaining in
focus.

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