Upwards movement has continued as the main Elliott wave count expected.
Downwards movement remained just above the invalidation point on the daily chart. The target is adjusted.
Recent price behaviour and volume suggest the alternate Elliott wave count from last analysis has a higher probability, so in today’s analysis it is now the main wave count.
Yesterday’s analysis expected another shallow correction to continue sideways. This is mostly what has happened. Price bounced up almost exactly at the lower edge of the channel on the hourly chart, where support was expected as fairly likely.
Upwards movement continued for Friday as the main wave count expected.
Upwards movement was expected for Monday’s session.
The target on the hourly Elliott wave count is not yet met, so the analysis today will focus on whether or not this bounce is complete.
Upwards movement continued to the target on the main hourly Elliott wave count.