MATURING PRICE CONSOLIDATION
Summary: The PK pattern is maturing and possibly in the final stages of development. This phase should be followed by a bull trend to T1 and T2. •
The further W,X,Y-type downside to cluster support around L, K and S2 is expected to hold.
Impulsive gains off the bearish bottoming area should target T1 and T2 over time.
Short term: Further downside potential to L and K likely.
Important levels: S2* is the negation level for the view and R1 is the activation level.
Target and re-assessment levels:
Important levels: R1* and S2*
Primary trend: PK consolidation, followed by a bull trend to T1/T2
Current trend: Downside to L and K
Monthly Range: R1*/S2*
Technical rating: Medium
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