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  • Writer's picturePeet Serfontein

Analyst Thoughts - Top 40 Medium-Term

VIEW RETAINED FOR CONTINUATION PRICE ACTION WITH A POSSIBLE DEFINED DOWNSIDE.


  • General view: Ongoing consolidation within the PM price range should eventually result in a bull trend to T2, as illustrated.

  • Interim: A potential medium-defined trade setup could be developing:

    • A,B,C,D,E downside towards S2 would then be the final leg off the PQ pattern, to be followed by the illustrated bull trend to T1 and beyond. Confirmation is required by interim KM price action following the illustrated outcome.

  • There are still a number of alternative outcomes that could complete the general PQ pattern.



Target and Re-assessment levels:

Important Levels: R0* and S1*

Primary Trend: KM defined downside to M

Prevailing Trend: R0*/S1* consolidation

Monthly Range: R0*/S1*

Technical Rating: Medium



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