Rebounds Off The Day Low *RES.....>

EUROSTOXX50 TECHS: Rebounds Off The Day Low

*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: 3136.40 @ Close Jun 15

*SUP 1: 3054.11 Low Jun 15

*SUP 2: 3053.48 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 lower again yesterday but did manage a strong rebound off

the day low. For now, the focus remains bearish following last week's sell-off.

It is too early to tell whether last week's pullback is a major reversal though.

At the very least, the pullback is allowing a recent overbought condition to

unwind. Attention is on 3053.48, the 50-day EMA and 3023.83, Apr 30 high. On the

upside, resistance to watch today is 3263.61, Jun 11 high.