A solid Friday recovery effort through resistance we had highlighted, leaves a still positive tone for Monday, having stated that "we see an upside bias for 3539; break here aims for 3560, maybe 3586".
The erratic Thursday rebound for a Dragonfly Doji rejected a more bearish shift and leaves a range environment still into mid-May, with an upside bias for Monday.
We see an upside bias for 3620; break here aims for 3659, maybe 3678, even 3713.
But below 3601 opens risk down to 3561, which we would look to try to hold..
Short/ Intermediate-term Range Parameters: We see the range defined by 3727 and 3441.
Range Breakout Challenge
Upside: Above 3727 aims higher for 3769 and 3835.
Downside: Below 3441 sees risk lower for 3366, 3349 and 3310.
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2 Hour EuroSTOXX 50 Future Chart (June Contract)
Daily EuroSTOXX 50 Future Chart (June Contract)