Growth stalled yesterday on the back of triggered local bearish pattern O&U, which we discussed. Presence of solid supports on the way of decline so far doesn’t allow considering serious prospects of decline. But a target in the shape of pivot-zone 1720.78-1724.71 is quite real even today.
Local structure has completed downswing, but the last bar was closed below support zone 1737.79-1739.43, therefore further decline of the quotes is likely toward the closest support zone 1725.49-1726.82, where evidently an upward correction will be needed.
Decline in direction 1725.49-1726.82 and then pullback to 1737.79-1739.43.
Shorts to 1725.49-1726.82.
Longs from 1725.49-1726.82 to 1737.79-1739.43.
New shorts from 1737.79-1739.43 (after an upward pullback).