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Off Recent Highs *RES 4:..........>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Off Recent Highs
*RES 4: 3553.05 High Feb 27
*RES 3: 3498.07 76.4% retracement of the Feb - Mar sell-off
*RES 2: 3448.24 High Mar 3
*RES 1: 3394.90 High Jun 8 and the bull trigger
*PRICE: 3293.71 @ Close Jun 10
*SUP 1: 3281.92 Low Jun 5
*SUP 2: 3169.73 Low Jun 3
*SUP 3: 3128.04 20-day EMA
*SUP 4: 3096.15 Low Jun 2
EUROSTOXX 50 traded lower yesterday. The underlying trend however remains
bullish and pullbacks are considered corrective. The breach of key resistance at
3023.83, Apr 30 high on May 27 confirmed a resumption of the bullish reversal on
Mar 16. Last week's gains resulted in a break of 3269.66, 61.8% of the Feb - Mar
sell-off. The focus is on 3348.24, Mar 3 high and 3498.07, the 76.4% retrace
level. On the downside, initial support is at 3281.92.

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