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Upside extension *RES 4:..........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Upside extension
*RES 4: 3445.84 61.8% retracement of the Jul 25-Aug 15 sell-off
*RES 3: 3424.68 Low Jun 27
*RES 2: 3409.35 50-day EMA
*RES 1: 3400.06 High Aug 21
*PRICE: 3394.89 @ Close Aug 21
*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 cleared key resistance at 3380.81, the Aug 13 high yesterday. With
momentum now rising, the focus is on an extension of this correction towards the
next objective at 3409.35, the 50-day EMA. The rally follows recent bullish
candlestick formations in the shape of a hammer last Thursday and bullish
engulfing on Friday that warned of a base. A 3409.35 break would open 3445.84,
61.8% of the Jul 25-Aug 15 low. Support is at 3332.93, Monday's low.

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