Pivot: 97.50
Our Preference: Bullish as long as 97.5 is support with targets at 109 and 114.7 in extension.
Alternative Scenario: Below 97.5 eye a drop towards 91.3 and 85.6 in extension.
Comment: the RSI is mixed and calls for caution. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Trend: ST Consolidation; MT Bullish, we have been bullish since 19 JUN 2013 (98.8).
Key levels Comment
118.75 Fib projection
114.7 Horizontal resistance
109 Horizontal resistance
105.25 Last
97.5 Pivot point
91.3 Horizontal support
85.6 Horizontal support
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