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Trendline support key for bulls...>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Trendline support key for bulls
*RES 4: 3641.04 1.618 projection of May 14-May 21 rally from May 27 low
*RES 3: 3604.36 Bull channel top drawn off the Jun 3 low
*RES 2: 3558.40 1.00 projection of Jun 14-Jun 21 rally from Jun 27 low
*RES 1: 3549.26 High Jul 4
*PRICE: 3523.76 @ Close Jul 8
*SUP 1: 3514.41 Low Jul 8 and today's key support
*SUP 2: 3507.70 Low Jul 3
*SUP 3: 3476.08 Low Jul 1
*SUP 4: 3424.68 Low Jun 27 and key trend support
EUROSTOXX50 remains below last Friday's high. The move lower is being viewed as
a correction with the underlying uptrend intact. Key support lies at the
trendline drawn off the Jun 3 low that yesterday intersected at 3519.56. The
trendline was probed yesterday however the market closed above the line leaving
it intact for now. A break and daily close below yesterday's low of 3514.41
would confirm break of the trendline and signal a short-term reversal.

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