Analyst thoughts: Top 40 Medium-term
VIEW RETAINED FOR A BULL TREND TO 78 800.
The illustrated view of a PQ consolidation, followed by the return of the primary bull trend to T1/T2 , seems to be materialising.
The overall PQ pattern seems complete after the impulsive upside off S2/Q and the subsequent break of P/S0.
It is likely for ranging price action to occur between R0 and S1* before further upside can develop.
The important pivotal level for the bullish outlook can now be lifted to S1*
Target and Re-assessment Levels:
Important Levels: S1*
Primary Trend and Target Levels: R0/S1* ranging, followed by gains to T1 and T2
Monthly Range: R1/S1*
Prevailing Trend and Target Levels: Downside off R0 to S0
Technical Rating: Medium