Pivot: 45
Our preference: Long positions above 45 with targets @ 49.4 52 in extension.
Alternative scenario: Below 45 look for further downside with 43.5 41.75 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
54
52
49.4
47.87 Last
45
43.5
41.75
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