Pivot: 48.4
Our preference: Long positions above 48.4 with targets @ 51.5 52.75 in extension.
Alternative scenario: Below 48.4 look for further downside with 47.65 46.25 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
54
52.75
51.5
50.43 Last
48.4
47.65
46.25
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