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Watching Key Support *RES 4:......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Watching Key Support
*RES 4: 3085.06 50.0% retracement of the Feb - Mar sell-off
*RES 3: 3023.83 High Apr 30 and key resistance
*RES 2: 2956.59 50-day EMA
*RES 1: 2927.26 High May 11
*PRICE: 2810.55 @ Close May 13
*SUP 1: 2801.07 Low May 4
*SUP 2: 2791.34 Low Apr 21 and bear trigger
*SUP 3: 2701.86 Low Apr 6
*SUP 4: 2626.10 Low Apr 2 and key support
EUROSTOXX 50 turned lower yesterday with attention on support at 2791.34. On Apr
30, the index confirmed a bearish engulfing candle pattern, a reversal signal.
The significance of this pattern is reinforced by the fact that the pullback on
Apr 30 follows a failure to convincingly clear the 50-day EMA. A breach of
2791.34 would reinforce the reversal signals and confirm a reversal, opening
2701.86, Apr 6 low. Initial firm resistance is at 2927.26, May 11 high.

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