Seen vulnerable near term *RES....>

EUROSTOXX50 TECHS: Seen vulnerable near term

*RES 4: 3424.68 Low Jun 27

*RES 3: 3406.39 50.0% retracement of the Jul 25 - Aug 15 downleg

*RES 2: 3401.59/3405.35 50-day EMA / High Aug 22 and key resistance

*RES 1: 3380.88 High Aug 27

*PRICE: 3370.47 @ Close Aug 27

*SUP 1: 3318.33 Low Aug 26

*SUP 2: 3286.54 Low Aug 16

*SUP 3: 3239.20 Low Aug 15 and key support

*SUP 4: 3175.71 Low Feb 15

EUROSTOXX50 is expected to remain vulnerable and gains over the past 48-hours

are being viewed as a correction. Failure at the highs of last week marked an

inability to clear resistance around the 50-day EMA and also signalled an end to

the correction between Aug 15 - Aug 22. The focus is on the 3286.54, Aug 16 low.

A break would open 3239.20, the low of Aug 15 and bear trigger. A move above

3405.35 is required to instead reinstate a bullish outlook.