VIEW RETAINED: THE BLUE PQ TRIANGLE PATTERN IS PART OF THE PRIMARY BULL TREND
The illustrated view of a PQ consolidation, followed by the eventual return of the primary bull trend to T1 and beyond, is retained.
The expected upside off S0/Q to P is in the latter stages of forming phase D. The final phase E to S0 and Q should be activated on a breach of R0.
Triangle patterns are complex and can have shortened legs and even interim trend line breaches. Current market action is typical of these types of patterns.
R1* and S1* are the pivotal levels to allow for ad hoc moves.
![](https://static.wixstatic.com/media/241672_b3320facbd764aafa8781b7c76e37812~mv2.png/v1/fill/w_49,h_32,al_c,q_85,usm_0.66_1.00_0.01,blur_2,enc_auto/241672_b3320facbd764aafa8781b7c76e37812~mv2.png)
Target and re-assessment levels
Important levels: R1* and S1*
Primary trend: PQ ranging, followed by gains to T1*
Prevailing trend: Downside off P to S0
Monthly range: P/S0
Technical rating: Medium