Pivot: 16.2
Our preference: Long positions above 16.2 with targets @ 17.18 17.37 in extension.
Alternative scenario: Below 16.2 look for further downside with 15.78 15.63 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
17.6 **
17.37 **
17.18 **
16.685 Last
16.2 ***
15.78 **
15.63 **
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