THE BULLISH TREND ACTIVATED
Medium-term: The long-held view of a maturing PK correction, followed by a major bull trend to T2, is materialising.
Recent bullish price action through P has negated any further consolidation in the PK phase and activated the bull trend to T1 and T2.
The testing of the phase 3 target area at RA1*, coupled with extreme overbought RSI conditions, could result in a RA1*/S0* consolidation/correction.
This will be part of the larger bull trend.
The pivot level for the bullish outlook is at S0*
Target and Re-assessment levels:
Important Level/s: RA1* and S0*
Primary Trend: Bull trend to T1 and T2 over time.
Prevailing Trend: RA1*/S0* consolidation.
Monthly Range: RA1*/S0*
Technical Rating: Medium
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