2024 TREND POTENTIAL WITH A BULL TREND TO HIGHER PRICES
The highlighted area portrays approximate 2024 market action and potential.
The PK triangle pattern should give way to a bull trend to T1 and T2.
The PK pattern seems incomplete but in a mature stage of development.
A bullish break of P/R1* will activate the illustrated gains.
A meaningful W,X,Y correction towards S1* will remain part of the long-term bull trend.
Conviction: Medium to high.
Note: It is difficult to pinpoint trend duration. The 2024 price action period is an estimation of the timespan.
Target and Reassessment Levels:
Important Levels: P* and K*
Primary Trend: P*/K* consolidation, followed by a bull trend to T1
Current Trend: Downside to S0, followed by a reversal to T1
Monthly Range: S1*/R1*
Technical Rating: Medium