VIEW RETAINED FOR A BEARISH CORRECTION OFF THE TARGET AREA.
The expected test and reversal off the indicated R1 target area has materialised and the illustrated view is retained in general.
The W,X,Y downside should target S2* where a medium-term bottom becomes likely.
The current upside off S1 could extend to R0* to complete phase X. This is a minor adjustment to the previous outlook.
The downside to S2* will complete the W,X,Y correction.
The longer-term outlook remains uncertain. Developing price action should give more insight over time.
Target and Re-assessment Levels:
Pivotal Levels: R0* and S2*
Primary Trend and Target Levels: WXY downside to S2
Prevailing Trend and Target Levels: Gains towards R0*
Technical Rating: Medium