Our Preference: SHORT positions below 12640 with 12480&12420 in sight.
Alternative scenario: The upside penetration of 12640 will call for a rebound towards 12755&12890.
Comment: the RSI is bearish and calls for further downside.
Trend: ST Bearish; MT Range
Key levels Comment
12890** Intraday resistance 12755** Intraday resistance 12640** Intraday pivot point 12511 Last 12480** Horizontal support 12420** Horizontal support 12340** Horizontal support