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Supported Ahead Of Bear Channel...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Supported Ahead Of Bear Channel Base 
*RES 4: 3467.78 High Aug 23 
*RES 3: 3455.03 21-DMA 
*RES 2: 3439.65 High Aug 28 
*RES 1: 3411.89 High Aug 29
*PREVIOUS CLOSE: 3388.22
*SUP 1: 3373.52 Hourly support Aug 29 
*SUP 2: 3363.68 Low Aug 29 
*SUP 3: 3355.40 High Feb 22 now support 
*SUP 4: 3346.59 Daily Bear channel base
*COMMENTARY: The 21-DMA has capped recent attempts to return pressure to the
55-DMA and bear channel top (3485.04) resulting in a close below the 200-DMA
(3407.02). Bears now focus on 3324.94-3363.68 with a close below 3324.94 to
target 2017 lows (3214.31). Initial resistance is now noted at 3411.89 with
bulls needing a close above to shift focus back to 3455.03-3539.48. The
Bollinger base (3391.82) is a concern and currently limits follow through.

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