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Stalls ahead of 50-day EMA *RES...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Stalls ahead of 50-day EMA
*RES 4: 3445.84 61.8% retracement of the Jul 25-Aug 15 sell-off
*RES 3: 3424.68 Low Jun 27
*RES 2: 3407.95 50-day EMA
*RES 1: 3405.35 High Aug 22
*PRICE: 3373.67 @ Close Aug 22
*SUP 1: 3332.93 Low Aug 19
*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 pushed higher yesterday, however bulls failed to hold onto gains.
The rally has thus far stalled ahead of the 50-day EMA at 3407.95 that
represents an area of strong resistance. A move above yesterday's high of
3405.35 and the MA is required to confirm a resumption of the recent rally and
open the 3445.84 Fibonacci retracement level. Momentum conditions remain
bullish. On the downside, support has been defined at 3332.93.

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