Pivot: 1280
Our preference: Long positions above 1280 with targets @ 1297 1304 in extension.
Alternative scenario: Below 1280 look for further downside with 1266 1259 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1312
1304
1297
1284 Last
1280
1266
1259
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