Metlife Inc. $MET has been consolidating after a bullish swing to start the year. MET Daily Chart(click to enlarge)Consolidation:- It should be noted that price action was bearish heading into 2019. - In late December of 2018, we saw price fall to $38, where it found support and rallied sharply back up to $46.- The $46-$46.40 area was a previous resistance and became the the resistance for the consolidation ahead.- We can see that after a couple more attempts, MET still failed to push above $46, suggesting that bears are still in control.- We can say that the overall mode is neutral-bearish.Breakout:- This week, we saw price crack below the consolidation support around $42.25. - While this is not convincing, it does open up a bearish outlook. After all, the market is neutral-BEARISH.- I think as long as price is holding under $44-$44.50 area, MET still has some short-term to medium-term downside risk, within this consolidation context.- As we can see on the weekly chart, the long-term trend is bullish and MET has been trading in a rising channel.- The current consolidation will be right above the channel support.- With short to medium-term bearish outlook, and a long-term bullish mode, I am anticipating downside to $38-$40 area, where I would expect major support.- Upside from this support would first be limited to the $46 common resistance. But if price eventually closes above $47, we can start anticipating a bullish push in this long-term and cyclical bull run.MET Weekly Chart(click to enlarge)