(U3) Reversal Lower Exposes Support

• RES 4: 4546.00 1.00 proj of the Jul 7 - 13 - 26 price swing
• RES 3: 4539.20 1.382 proj of the May 31 - Jul 3 - 7 price swing (cont)
• RES 2: 4515.00 High Nov / Dec 2007 (cont)
• RES 1: 4513.00 High Jul 31 and the bull trigger
• PRICE: 4399.00 @ 06:30 BST Aug 2
• SUP 1: 4371.40 50-day EMA
• SUP 2: 4331.00 Low Jul 26 and key support
• SUP 3: 4282.00 Low Jul 11
• SUP 4: 4220.00 Low Jul 7 and a reversal trigger

Eurostoxx 50 futures have found resistance at 4513.00, Monday’s high, and the contract has traded sharply lower. For now, the pullback is considered corrective. However, the move lower has exposed support at the 50-day EMA. The average intersects at 4371.40 and a clear break, if seen, would threaten recent bullish developments and expose 4331.00, the Jul 26 low and a key support. Key resistance and the bull trigger is at 4513.00.