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Heavy! *RES 4: 3498.07 76.4%......>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Heavy!
*RES 4: 3498.07 76.4% retracement of the Feb - Mar sell-off
*RES 3: 3448.24 High Mar 3
*RES 2: 3394.90 High Jun 8 and the bull trigger
*RES 1: 3263.61 High Jun 11
*PRICE: 3144.57 @ Close Jun 11
*SUP 1: 3129.61 20-day EMA
*SUP 2: 3045.94 50-day EMA
*SUP 3: 3023.83 High Apr 30
*SUP 4: 2915.63 Bear channel base drawn off the Mar 16 low
EUROSTOXX 50 fell sharply yesterday. It is too early to tell whether this week's
pullback is a major reversal. At the very least, this market has entered a
corrective mode allowing a recent overbought condition to unwind. Attention is
on 3129.61, 20-day EMA and 3023.83, Apr 30 high. The area between these two
levels marks a key support zone. A break would suggest potential for a deeper
decline. On the upside, initial resistance is at yesterday's high of 3263.61.

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