Pivot: 122.65
Our preference: Long positions above 122.65 with targets @ 123.6 124 in extension.
Alternative scenario: Below 122.65 look for further downside with 122 121.6 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
124.55 ***
124 **
123.6 ***
122.83 Last
122.65 **
122 ***
121.6 **
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