Pivot: 118.6
Our preference: Long positions above 118.6 with targets @ 119.2 119.45 in extension.
Alternative scenario: Below 118.6 look for further downside with 118.25 118 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
119.9 **
119.45 ***
119.2 **
118.93 Last
118.6 ***
118.25 ***
118 **
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