Pivot (invalidation): 108.45

Our preference Short positions below 108.45 with targets at 108.20 & 108.00 in extension.

Alternative scenario Above 108.45 look for further upside with 108.65 & 108.85 as targets.

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Comment The index currently faces a challenging resistance area at 108.45. Having repeatedly failed to break above the key resistance at 108.45, the pair has returned to the lower Bollinger band.

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