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EUROSTOXX50 TECHS: Bullish engulfing reversal
*RES 4: 3560.85 Bull channel top drawn off the Jun 6 low
*RES 3: 3515.15/75 High Apr 24 major resistance
*RES 2: 3496.79 High Jun 21 and bull trigger
*RES 1: 3476.93 High Jun 28
*PRICE: 3473.69 @ Close June 28
*SUP 1: 3424.68 Low Jun 27 and key support for today
*SUP 2: 3418.18 High Jun 11
*SUP 3: 3397.52 50-day EMA
*SUP 4: 3363.07 Jun 14 low
EUROSTOXX50 strong gains on Friday bodes well for bulls. The combination of a
doji candle pattern last Thursday & a bullish engulfing reversal on Friday,
signals an end to the recent corrective pullback. Furthermore prices are back
above trendline support. Momentum too is rising. Attention is on the Jun 21 high
of 3496.79, a break would confirm a resumption of the uptrend & open the 3560.85
bull channel top. On the downside, 3424.68 represents an important support.