THE PERSISTENT VIEW MAINTAINED DURING AN ONGOING CONSOLIDATION IN THE PRICE ACTION.
General view: Ongoing consolidation within the PM price range should eventually result in a bull trend to T2, as illustrated.
Interim:
The preferred outlook is for A,B,C gains, followed by W,X,Y downside.
Current phase B is expected to continue over the immediate future within the R0*/S1* parameters.
R0* will confirm Phase C upside and S1* will extend downside to S2 and M.
Execution: Contrarian trading at extended levels.
Target and Re-assessment Levels:
Important Levels: R0* and S1*
Primary Trend: ABC bull phase to P, followed by WXY downside to M
Prevailing Trend: R0*/S1* consolidation
Monthly Range: R0*/S1*
Technical Rating: Speculative on interim detail
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