Pivot: 104.8
Our preference: Long positions above 104.8 with targets @ 105.15 105.45 in extension.
Alternative scenario: Below 104.8 look for further downside with 104.45 104.1 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Key levels
105.85
105.45
105.15
104.904 last
104.8
104.45
104.1
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