Moves into 16,700 could be the level to sell into. As you can see throughout August and September, we have seen this level cap rallies. It's also the 61.8% retracement of the August sell-off.
Momentum indicators are elevated and into 16,700, suggesting the upside could be capped – although the shorts would want to see a move back below the 80 level on stochastics.
From a risk/reward perspective, I feel a move back into 16,400 could be on the cards and the strong horizontal resistence gives a solid guide for stops.