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Weak Close Suggests Rally.........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Weak Close Suggests Rally Fading
*RES 4: 3514.78 High August 7 
*RES 3: 3486.31 High August 10 
*RES 2: 3462.81 High August 28 
*RES 1: 3349.14 Low August 15, now resistance 
*PREVIOUS CLOSE: 3333.68 
*SUP 1: 3261.86 Low March 26 
*SUP 2: 3214.31 Low February 8 2017 
*SUP 3: 3175.00 Bear channel bottom 
*SUP 4: 2984.48 Low December 2 2016
Although Eurostoxx50 posted another up day yesterday it failed to overcome the
Aug 15 low at 3349.14 and the weak close suggests the bulls are running out of
steam. A break above this level is needed to give challenge to the Aug 28 high
at 3462.81 and open up down trendline resistance. The broader trend remains
bearish with the March 26 low of 3261.86 coming back into focus. Below here
would open up the Feb 2017 lows, confirming the large topping pattern.

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