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Consolidating *RES 4: 3394.90.....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Consolidating
*RES 4: 3394.90 High Jun 8 and the bull trigger
*RES 3: 3355.76 High Jun 10
*RES 2: 3317.87 High Jun 23 and key near-term resistance
*RES 1: 3272.97 High Jun 26
*PRICE: 3232.02 @ Close Jun 29
*SUP 1: 3149.67 Low Jun 25
*SUP 2: 3118.84/3054.11 50-day EMA / Low Jun 15
*SUP 3: 3044.11 Bull channel base drawn off the Jun 16 low.
*SUP 4: 3023.83 High Apr 30
EUROSTOXX 50 is consolidating. The index sold off sharply on Jun 24 but did
manage to retrace some losses late last week. The outlook is bearish. Recent
gains between Jun 15 - 23 are considered a correction and the move lower on Jun
24 suggests a top has been defined at 3317.87, Jun 23 high. Further weakness
would signal scope for a test of key support at 3054.11, Jun 15 low. The index
needs to break above 3317.87 to ease the developing bearish threat.

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