Pivot: 1265
Our preference: Long positions above 1265 with targets @ 1285 1293 in extension.
Alternative scenario: Below 1265 look for further downside with 1258 1252 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1300 **
1293 **
1285 **
1275.5 Last
1265 ***
1258 **
1252 *
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