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Contracting Range *RES 4:.........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Contracting Range
*RES 4: 3515.15 High Apr 24 
*RES 3: 3467.64 High May 7
*RES 2: 3438.56 High May 16 
*RES 1: 3396.87/3403.54/3411.23 Down trendline resistance from May 3
high/55-dma/21-dma 
*PRICE: 3364.04 @ Close May 27 
*SUP 1: 3323.70/3318.00 Low May 23/Neckline support
*SUP 2: 3311.17 Low May 13 
*SUP 3: 3281.79/3273.68/3270.50 Low Mar 25/Low Mar 8/200-dma 
*SUP 4: 3211.92 50% retracement 
Eurostoxx trades in a contracting range between down trendline resistance and
neckline support. Bulls need to recover 3396.87/3403.54/3411.23 marking down
trendline resistance from the May 3 high/55-dma/21-dma to suggest a bullish
break. Bears look for a break below the May 23 low at 3323.700 and neckline
support at 3318.00 to suggest a bearish reversal.

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