VIEW RETAINED FOR A MATERIALISED BULL TREND WITH A BEARISH BIAS
The medium-term view of a bull trend from S2 to the T1 target, has materialised.
The technical picture has changed from bullish to bearish it appears.
The gapping reversal off the previous T1 highs should result in some form of bearish correction.
The illustrated A,B,C correction is retained as the preferred pattern to S1, but it is possible that a flat consolidation phase could bottom out short of S1.
A break below the previous top at S0* will further confirm the indicated downside. A break above T1 will negate the downside potential.
Trading below P* will negate the long-term bull trend.