Pivot: 16.5
Our preference: Long positions above 16.5 with targets @ 17.2 17.32 in extension.
Alternative scenario: Below 16.5 look for further downside with 16.35 16.15 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
17.5 **
17.32 **
17.2 **
16.752 Last
16.5 ***
16.35 **
16.15 *
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