Holding Onto This Week's..........>

EUROSTOXX50 TECHS: Holding Onto This Week's Correction

*RES 4: 3448.24 High Mar 3

*RES 3: 3394.90 High Jun 8 and the bull trigger

*RES 2: 3314.22 76.4% retracement of the Jun 8 - 15 sell-off

*RES 1: 3282.92 High Jun 17

*PRICE: 3267.26 @ Close Jun 17

*SUP 1: 3156.03 Low Low Jun 16

*SUP 2: 3054.11/60.90 Low Jun 15 / 50-day EMA

*SUP 3: 3023.83 High Apr 30

*SUP 4: 2925.51 Bear channel base drawn off the Mar 16 low

EUROSTOXX 50 traded higher again yesterday extending the rebound off Monday's

low. For now, this week's gains are still considered a correction with a bearish

theme intact following last week's sell-off. It is however too early to tell

whether last week's pullback is a major reversal. Attention is on 3069.09, the

50-day EMA and 3023.83, Apr 30 high. The bear trigger is Monday's low of

3054.11. Resistance is at 3314.22, a retracement level.