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

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Off Recent Highs
*RES 4: 3677.73 Bull channel top drawn off the Mar 16 low
*RES 3: 3553.05 High Feb 27
*RES 2: 3498.07 76.4% retracement of the Feb - Mar sell-off
*RES 1: 3451.16 High Jul 21 and the bull trigger
*PRICE: 3371.74 @ Close Jul 23
*SUP 1: 3332.64 Low Jul 20
*SUP 2: 3277.40/241.29 Low Jul 14 / Low Jul 10
*SUP 3: 3223.15/212.14 50-day EMA / Channel base drawn off the Mar 16 low
*SUP 4: 3181.12 Low Jul 1 Bull channel base drawn off the Mar 16 low
EUROSTOXX 50 maintains a bullish condition although the index traded lower
Wednesday having found resistance at 3541.16, Tuesday's high. Recent gains
confirmed an extension of the current uptrend following the breach of former
resistance at 3394.90, Jun 8 high. With moving average studies in a bullish
condition, further gains are likely. The focus is on 3498.07, 76.4% of the Feb -
Mar sell-off. Initial support to watch is at 3332.64, Monday's low.

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