Pivot
39200
Our preference
Long positions above 39200 with targets at 42300 & 43800 in extension.
Alternative scenario
Below 39200 look for further downside with 38000 & 36700 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances
45000 **
43800 **
42300 ***
41276 Last
39200 ***
38000 ***
36700 **
Number of asterisks represents the strength of support and resistance levels.