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Neckline Support Gives Way *RES...>

EUROSTOXX50 TECHS: Neckline Support Gives Way
*RES 4: 3467.64 High May 7 
*RES 3: 3438.56 High May 16 
*RES 2: 3393.62/3404.60 21-dma/55-dma 
*RES 1: 3380.85 High May 27 
*PRICE: 3297.81 @ Close May 29 
*SUP 1: 3281.79/3273.68/3269.89 Low Mar 25/Low Mar 8/200-dma 
*SUP 2: 3211.92 50% retracement 
*SUP 3: 3140.16/3124.62 61.8% retracement/Low Feb 8
*SUP 4: 3080.00 Head and shoulders target 
Eurostoxx broke cleanly below neckline support yesterday shifting the outlook
outright negative and bringing the 3281.79/3273.68/3269.89 area into focus
marking the Mar 25 low/Mar 8 low/200-dma. Below here would likely accelerate the
downside towards the 50% retracement of the Dec-April rally. Bulls need to
recover Monday's high at 3380.85 to improve the outlook and open the 21/55-dmas
at 3393.62/3404.60.

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