A BULLISH TREND TO 20.91 IS LIKELY, THEN DOWN TO 17.60.
Medium-Term Outlook: The RS triangle pattern, typically indicative of a forthcoming upward trend, is expected to lead to a rally towards T1. This upward movement might be interspersed with declines towards the S1*/S2 support zone, represented by variables x, y, z.
The RS pattern is nearing the end of its formation, suggesting limited downside to S and S1* could finalise the pattern, propelling the market towards a bullish phase to T1.
A breakout above R/R1* would validate the anticipated gains.
A significant correction towards S1*, denoted by x, y, z, would not disrupt the overarching bullish trend.
Key Levels: R1* and S1* mark the boundaries of the current sideways movement.
Confidence Level: Medium to high.
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