Short term decline or new bearish leg?

After failing to break above the 3900 resistance level the DJ Euro Stoxx 50 may start a correction.On this hourly chart, you can clearly see a break of a bullish ascending trendline.The first support zone is 3700.

If the index failed to rebound in the coming days, there is a high probability of extending the slide towards the lower part of the rectangle. (daily chart-support around 3500)