VIEW IS RETAINED FOR A MATERIALISED BULLISH TREND WITH BEARISH BIAS
The previous medium-term view of a bull trend from SA1* to the long-held T1 target has materialised.
The technical picture has changed more bearish for the first quarter of 2024.
The sharp reversal off T1, coupled with the highlighted bearish RSI divergence, should result in some form of meaningful bearish correction.
The illustrated W,X,Y correction is retained as the preferred pattern to S1* and SA1* target levels, but it is very early in the corrective stage and a number of formations remain possible.
A break below the previous top at S0* will further confirm the indicated downside. A break above T1 will negate the downside potential.