Corrective mode *RES 4: 3558.40...>

EUROSTOXX50 TECHS: Corrective mode

*RES 4: 3558.40 1.00 projection of Jun 14-Jun 21 rally from Jun 27 low

*RES 3: 3549.26 High Jul 4 and key bull trigger

*RES 2: 3530.11 High Jul 16

*RES 1: 3500.82 High Jul 18

*PRICE: 3482.83 @ Close Jul 18

*SUP 1: 3467.25 Low Jul 18

*SUP 2: 3445.62 50-day EMA

*SUP 3: 3442.39 Low Jun 28

*SUP 4: 3434.38 38.2% retracement of the rally between Jun 3-Jul 4

EUROSTOXX50 traded lower yesterday and is likely to remain heavy near-term as a

correction extends. Last weeks break of trendline support drawn off the Jun 3

low signalled scope for a deeper pullback. Yesterday's move below Monday's

3483.17 low has confirmed this outlook and opens 38.2% of the rally between Jun

3-Jul 4 at 3434.38. Resistance is at 3530.11, a break is required to reinstate a

bullish tone and once again open 3541.85, the high of Jul 4.