Pivot: 47.4
Our preference: Long positions above 47.4 with targets @ 49.5 50.5 in extension.
Alternative scenario: Below 47.4 look for further downside with 46.65 45.95 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
51.4
50.5
49.5
48.49 Last
47.4
46.65
45.95
Copyright 1999 – 2015 TRADING CENTRAL