Bearish Threat Thwarted *RES 4:...>

EUROSTOXX50 TECHS: Bearish Threat Thwarted

*RES 4: 3588.68 High Oct 1 and key resistance

*RES 3: 3543.83 76.4% retracement of Oct 1 - Oct 3 decline

*RES 2: 3516.88 High Oct 2 and key intraday resistance

*RES 1: 3501.19 High Oct 10

*PRICE: 3493.96 @ Close Oct 10

*SUP 1: 3426.82 Low Oct 8

*SUP 2: 3398.64 Low Oct 3 and bear trigger

*SUP 3: 3372.70 61.8% retracement of Aug 15 - Oct 1 rally

*SUP 4: 3356.68 Low Aug 29

EUROSTOXX50 rebounded yesterday. The move negates the recent bearish focus,

specifically negating the bearish engulfing pattern on Oct 8. With price action

also above former resistance at 3480.28, attention turns to the Oct 2 high of

3516.88. This is an important short-term resistance where a break is required to

open the 3588.68, Oct 1 high and bull trigger. Note, a rejection ahead of

3516.88 would again signal a possible return to the downside.