Description
⋅ Pivot
1989.00
Our preference
Long positions above 1989.00 with targets at 2007.00 & 2012.00 in extension.
Alternative scenario
Below 1989.00 look for further downside with 1983.00 & 1976.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.