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Sharp Recovery From 200-DMA Key...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Sharp Recovery From 200-DMA Key Support
*RES 4: 3591.83 1.00 projection of Jun 27-Jul 4 rally off the Jul 27 low
*RES 3: 3573.57 High Jul 25
*RES 2: 3539.94 High Jul 29
*RES 2: 3426.52/3434.78 100-DMA, 55-DMA
*RES 1: 3394.08 23.6% of 3283.13 to 3573.57
*PRICE: 3375.38 @ Close Aug 8
*SUP 1: 3296.14 200-DMA
*SUP 2: 3241.14/3248.54 50% of Dec 2018-July 2019 rally, Low Jun 3
*SUP 3: 3175.71 Low Feb 15
*SUP 4: 3162.68 61.8% of Dec 2018-July 2019 rally
EUROSTOXX50 has put in a sharp recovery from 200-DMA, despite minor test below.
Risk is now on a near-term retracement to 3394.08 - 23.6% of 3283.13 to 3573.57
and potentially to 3426.52/3434.78 - the 100-DMA, 55-DMA's respectively. Look
for a fade off this important moving average resistance area.

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