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Key resistance at 16.3800.
(By Swissquote TRADING CENTRAL)
Pivot (invalidation): 16.3800
Our preference
Short positions below 16.3800 with targets at 16.1700 & 16.1200 in extension.
Alternative scenario
Above 16.3800 look for further upside with 16.5500 & 16.6300 as targets.
Comment
Even though a continuation of the technical rebound cannot be ruled out, its extent should be
limited.