Pivot: 16.4
Our preference: Long positions above 16.4 with targets @ 16.93 17.1 in extension.
Alternative scenario: Below 16.4 look for further downside with 16.2 16.06 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
17.22 **
17.1 **
16.93 ***
16.617 Last
16.4 **
16.2 **
16.06 **
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