Pivot: 16.39
Our preference: Long positions above 16.39 with targets @ 16.9 17.06 in extension.
Alternative scenario: Below 16.39 look for further downside with 16.3 16.2 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
17.29 **
17.06 **
16.9 **
16.651 Last
16.39 ***
16.3 **
16.2 **
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