Pivot: 4950
Our preference: short positions below 4950 with targets @ 4890 & 4850 in extension.
Alternative scenario: above 4950 look for further upside with 4980 & 5023 as targets.
Comment: as long as 4950 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
5023
4980
4950
4935 Last
4890
4850
4820
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