WEEKLY CHART - CONTINUATION:

The 38.2% recovery level remains first key resistance on this long term chart.

The current multi-month consolidation (with slight bear bias) continues to unfold.

DAILY CHART - DEC-10:

Note how nicely support has developed at the 50% retracement.

It is again under pressure, following lacklustre rally attempts, with current risk of a better break.

This would turn initial focus towards the channel base projection at 11.10 currently. However, also note lower 76.4% level at 10.30 which lies close to a Fibo projection at 10.38 - the temptation would be to target this area.

Overhead, the hurdles include s/term 76.4% bounce level at 14.48, falling resistance line just above and then 15.17 08-Dec high. A breach of the latter would violate the pattern of falling highs and lows, and turn the tables in favour of the bulls.