THE OUTLOOK IS HELD FOR PRICE PROBABILITIES WITH A MINOR RETRACEMENT, AFTER WHICH THE BULLISH TREND MAY PERSIST.
Completion of both the expected LM wedge pattern and W,X,Y bullish correction has materialised.
R1 is where W = X as a common extension for a three-phased correction.
A break of S0 will activate the A,B,C downside potential to S1 and towards S2*.
This would likely be followed by upside to R1 and further R1/S2* ranging.
The PQ formation remains a correction in a larger bull trend with the eventual gain potential to T1.
Target and Re-assessment Levels:
Important Levels: S2*
Primary Trend: ABC downside towards S2*, followed by gains to P
Monthly Range: R1/S1
Current Trend and Target Levels: Gains to R1, then downside to S0
Technical Rating: Medium