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Still Heavy *RES 4: 3386.33.......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Still Heavy
*RES 4: 3386.33 20-day EMA
*RES 3: 3347.83 High Mar 6
*RES 2: 3214.20 High Mar 9
*RES 1: 3088.57 High Mar 10
*PRICE: 2905.24@ Close Mar 11
*SUP 1: 2892.52 Low Aug 3, 2016
*SUP 2: 2843.11 Low Jul 11, 2016
*SUP 3: 2800.00 Round number support
*SUP 4: 2768.62 Low Jul 8, 2016
EUROSTOXX 50 traded lower again yesterday extending the move through the
psychological 3000 handle. The most recent sell-off from Mar 5 confirmed a
resumption of the impulsive decline and the outlook remains bearish. Note, this
market together with equity indices in general, is at extreme oversold levels.
The risk of a correction, perhaps even a sharp reversal increases each day.
Initial resistance is 3088.57, the focus is on 2892.52 and 2843.11 next.

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