Blackstone on the monthly chart still looks like it is moving through a large corrective phase after topping near $200. Price has been making lower highs and continues trading below the descending resistance trendline, which shows long-term momentum is still cooling off.
The current structure appears to be a broader wave 4 correction rather than a complete trend reversal. The major support zone between $84 and $71 remains important, as buyers could step back in from that area if the correction continues deeper.
As long as the price stays above the broader support region, the long-term bullish structure remains intact. A successful recovery from the correction zone could restart the next higher impulsive move.
If momentum returns, the next upside targets come in around $100, $140, and eventually $185+ over the longer term.
We will update further information soon.
BrightRally_Research
The current structure appears to be a broader wave 4 correction rather than a complete trend reversal. The major support zone between $84 and $71 remains important, as buyers could step back in from that area if the correction continues deeper.
As long as the price stays above the broader support region, the long-term bullish structure remains intact. A successful recovery from the correction zone could restart the next higher impulsive move.
If momentum returns, the next upside targets come in around $100, $140, and eventually $185+ over the longer term.
We will update further information soon.
BrightRally_Research
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