Pivot: 18.20
Our preference: neutral between 18.2 and 22.5. A break above 22.5 would call for 24.8 and 26.6 in extension.
An downside breakout of 18.2 would open the way towards 14.7.
Comment: the declining trend channel is clearly broken, changing the technical picture to neutral.
Trend: ST Range; MT Range, we have been neutral since 12 AUG 2013 (21.15).
Key levels Comment
26.6 Fib retracement (50%)
24.8 Fib retracement (38.2%)
22.5 Pivot point
19.42 Last
18.2 Pivot point
17.2 Horizontal support
14.7 Horizontal support
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