Trading Sideways *RES 4:..........>

EUROSTOXX50 TECHS: Trading Sideways

*RES 4: 3394.90 High Jun 8 and the bull trigger

*RES 3: 3355.76 High Jun 10

*RES 2: 3317.87 High Jun 23 and key near-term resistance

*RES 1: 3272.97 High Jun 26

*PRICE: 3228.45 @ Close Jul 1

*SUP 1: 3149.67 Low Jun 25

*SUP 2: 3124.10/3054.11 50-day EMA / Low Jun 15

*SUP 3: 3054.00 Bull channel base drawn off the Jun 16 low.

*SUP 4: 3023.83 High Apr 30

EUROSTOXX 50 index sold off sharply on Jun 24/25 but has since consolidated in a

tight range. The outlook is bearish. Recent gains between Jun 15 - 23 are

considered a correction and the move lower on Jun 24 suggests a top has been

defined at 3317.87, Jun 23 high. Further weakness would signal scope for a test

of key support at 3054.11, Jun 15 low. The index needs to break above 3317.87 to

ease the developing bearish threat.