VOLATILE MOVES AS THE BULL TREND UNWINDS
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 expected PK flag pattern (in blue) is developing as a part of the larger bull trend and should be followed by renewed gains to T1.
Overbought conditions are being addressed.
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 and beyond is likely on the completion of the bull trend to T2.
Target and Re-assessment Levels:
Pivotal Levels: K*
Primary Trend: Gains to T1, and eventually to T2 followed by downside to S2*
Prevailing Trend: Ongoing PK* correction
Technical Rating: Medium
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