A far more significant plunge Wednesday to probe our key level at 3544, but the quickly rebound back above here.
For now, this has avoided a broader shift to a range theme and we see a rebound bias for Thursday.
However, should the Wednesday low at 3534 be breached, we would see a shift to a non-trend phase into May.
We see an upside bias for 3591; break here aims for 3618, maybe to 3659.
But below 3534 opens risk down to 3502, maybe key 3476 and 3457, which we would look to try to hold.
Short/ Intermediate-term Outlook - Upside Risks:
We see a bigger picture positive tone with the late April threat back to the April cycle high at 3769.
The bullish risk is then for Fibo extension levels now at 3777 and 3835.
Above here the threat is still higher for a key swing high from 2008 at 3879.
What Changes This? Through 3534 signals a neutral tone, only shifting negative below 3457.
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2 Hour EuroSTOXX 50 Future Chart (June Contract)
Daily EuroSTOXX 50 Future Chart (June Contract)