THE VOLATILE PRICE ACTION CONTINUES
The overall bullish stance is materialiSing, as illustrated. The impulsive bull trend from point 0 has further potential to T1 and eventually T2. Gains are likely to be volatile with intermittent corrections as the trend starts to unwind.
The expectation of a PK flag is materialiSing and should be followed by renewed gains to T1.
The W,X,Y type correction off T1 to S1* will still be part of the general bull trend that is expected to be completed around T2.
The eventual meaningful downside to S2 is likely on the completion of the bull trend to T2. SA1* has been slightly adjusted as pivotal for the general bullish bias.
Target and Re-assessment Levels:
Pivotal Levels: 59 800/56700
Primary Trend: Gains to 81 200, and eventually to 98 000 followed by downside to 48 000
Prevailing Trend: A consolidation between 69160 and 56700
Technical Rating: Medium
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