Pivot: 1399.00
Our preference: SHORT positions below 1399 with 1370 1346 as next targets.
Alternative scenario: The upside penetration of 1399 will call for a rebound towards 1418 1431.
Comment: the immediate trend remains down and the momentum is strong.
Trend: ST Bearish; MT Bearish
Key levels Comment
1431*** Intraday resistance
1418** Intraday resistance
1399** Intraday pivot point
1385.47 Last
1370** Fib retracement (61.8%)
1346** Fib projection
1322*** Previous low
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