Yesterday, the negative bias seen from the Europe markets before the US session open and as a result, the bearish scenario placed in action. The support area 1397.00-1400.00 worked well as where bears satisfy the gain and leaving prices pushed up by the bulls. Bulls have reclaimed almost what bears borrowed for the day.
My favorite scenario for today is bears will try another push down to visit 1402.30-1404.64, this area I expect hold well by bulls and then bulls will fight for the target 1411.85-1413.09.
Bearish case, if any, would be limited by 1397.00-1400.00 because of high chances that no big bet ahead of the key ECB meeting.