Bulls are consolidating after strong rally; 2018 high remains in focus

Bulls are taking a breather after strong rally in past two days (0.8% advance), with firm bullish bias being intact and focusing targets at 114.20 (12 Nov) and 114.54 (2018 high).
Tuesday’s marginal close above 113.75 pivot (Fibo 76.4% of 114.20/112.30) was bullish signal, however, bulls may enter consolidative phase before continuing.
Weaker momentum and overbought slow stochastic support the notion.
Dip-buying strategy remains favored, with dips facing initial support at 113.48 (broken Fibo 61.8%) then 113.34 (rising 20SMA) and extended downticks expected to find ground above 10SMA (113.17).

Res: 113.90; 114.20; 114.54; 114.73
Sup: 113.48; 113.34; 113.17; 113.05