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Recovery Renews Acquaintance....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Recovery Renews Acquaintance With Stg0.8837-Stg0.8842 
*RES 4: Stg0.8942 6 month bear channel top
*RES 3: Stg0.8884/86 1% vol band, 76.4% Stg0.8968-Stg0.8620
*RES 2: Stg0.8851 Equality rise from 0.8681 to 0.8620-0.8790
*RES 1: Stg0.8837/42 May 10, May 4 highs
*PRICE: Stg0.8810 @0824GMT
*SUP 1: Stg0.8760/70 Hourly support
*SUP 2: Stg0.8728 May 9 low
*SUP 3: Stg0.8719 76.4% Fibo of Stg0.8681-Stg0.8842
*SUP 4: Stg0.8705/08 61.8% Stg0.8620-Stg0.8642, 1% vol band
*COMMENTARY* Unable to sustain the move back into the top half of the 6 month
bear channel. A high of Stg0.8842 last week, before succumbing to some
corrective pressure. The loss of Stg0.8761 and then Stg0.8742 on Wednesday,
leaving the Stg0.8719 area vulnerable to a test. Meanwhile, back above Stg0.8780
and then Stg0.8815 has improved the outlook again but still has
Stg0.8842-Stg0.8851 in the way of a Stg0.8884-Stg0.8886 rise.

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