Pivot: 49.75
Our preference: Long positions above 49.75 with targets @ 54.3 55.5 in extension.
Alternative scenario: Below 49.75 look for further downside with 48 46.6 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
57.3
55.5
54.3
51.39 Last
49.75
48
46.6
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