Topside Hesitation Taking Its.....>

EUROSTOXX50 TECHS: Topside Hesitation Taking Its Toll 

*RES 4: 3642.10 Low Nov 8 now resistance 

*RES 3: 3620.01 High Nov 10 

*RES 2: 3601.30 55-DMA 

*RES 1: 3581.05 Hourly resistance Dec 14

*PREVIOUS CLOSE: 3556.22

*SUP 1: 3531.17 Weekly Bull channel base (Off July 2016 low) 

*SUP 2: 3530.59 200-DMA 

*SUP 3: 3519.35 Low Dec 7 

*SUP 4: 3497.29 High Aug 16 now support

*COMMENTARY: The lack of topside follow through above the 55-DMA has taken its

toll with the index remaining heavy and focus having returned to the lower end

of the defining 3519.35-3620.01 range. Bears need a close below 3519.35 to

confirm breaks of key supports and below 3497.29 to target the bear channel base

(3439.76). Bulls now need a close above the 55-DMA to hint at a move back to Nov

highs with above 3642.10 to confirm.