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EUROSTOXX50 TECHS: Uptrend Holds For Now
*RES 4: 3391.34 Up trend channel resistance from Feb 8
*RES 3: 3373.13 Channel top resistance from Feb 15
*RES 2: 3340.67 High Mar 6
*RES 1: 3283.73 200-dma
*PREVIOUS CLOSE: 3283.60
*SUP 1: 3268.95/3267.71 Low Feb 28/Up trend channel support from Dec 27
*SUP 2: 3258.10 21-dma
*SUP 3: 3223.40 Low Feb 19
*SUP 4: 3175.71/66 Low Feb 15/38.2% retracement
Eurostoxx managed to cling to uptrend support on Friday despite the poor close
to the week, which keeps the broader bullish trend intact. To reignite upside
momentum bulls need to recover the 200-dma at 3283.73, which would bring the
March 6 high at 3340.67 back into play. Bears look to close below the Feb 28 low
and uptrend support from the Dec 27 low at 3268.95/3267.71. Below here would
shift the outlook bearish and open the 21-dma at 3258.10.