Pivot: 1550.
Our Preference: Bearish below 1550 with targets @ 1300 1265 in extension.
Alternative scenario: An upside breakout of 1550 would open the way towards 1620.
Comment: the break below 1525 is a negative signal that has opened a path to 1265.
Trend: ST Bearish; MT Bearish, we have been bearish since 21 DEC 2012 (1667).
Key levels Comment
1656 Horizontal resistance
1620 Horizontal resistance
1550 Pivot point
1377 Last
1300 Fib retracement (50%)
1265 Horizontal support
1150 Fib retracement (61.8%)
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