THE TRIANGLE PATTERN APPEARS TO BE APPROACHING COMPLETION.
The blue triangle pattern appears to be maturing and potentially the next price action might be the w,x,y final phase to conclude E.
The triangle pattern has completed phase D, somewhat earlier than expected.
The interim expectation is an 18.55 to 18.99 consolidation.
Cluster support from 19.32 and beyond should initiate a bullish reversal and trend to 19.99..
Alternative: A break below the pivotal 18.73 level (its 200-day simple moving average) will negate the triangle pattern and extend the downside to 17.62, truncating the w, x and y price action and the 1,2,3,4,5-bull trend.
Target and Reassessment Levels:
Important Levels: 18.29 and 18.99
Primary Trend: Triangle pattern consolidation, followed by a bull trend to 19.90 and beyond.
Current Trend: 18.99 to 18.29 consolidation
Monthly Range: 17.62 to 19.51
Technical Rating: Medium
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