VIEW RETAINED: ENGAGING AT PIVOTAL TRADING LEVELS.
The overall view of the downside off L* to M** has materialised and the general view is retained.
The index is testing pivotal N/M* cluster support.
However, some alternatives might be possible:
M* is the pivotal level and R0* is the upside activation.
Target and Re-assessment Levels:
Important Levels: M* and R0
Primary Trend: Bear trend to S3, followed by impulsive gains to R2 and beyond.
Prevailing Trend: R0*/M* ranging
Monthly Range: R0/S1
Technical Rating: Medium
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