Upwards movement was expected after last analysis. Friday completed a higher high and a higher low, but a deep pullback at the end of the session closed the candlestick red. Price remains above the invalidation point on the hourly chart.
Upwards movement continues exactly as expected. The target remains the same.
Upwards movement continues as the main Elliott wave count expects.
Price today bounced up perfectly from the upper edge of the base channel. This gives us an important clue as to what should happen next.
Upwards movement continues as the new main wave count expects.
Price has continued to move higher as was expected for the session by both Elliott wave counts.
A little more downwards movement was expected to a target at 1,266. Price did move lower, but did not make a new low and has fallen $2.34 short of the target.
Downwards movement continued as expected for Tuesday. The target at 1,275 was passed and price remains above the invalidation point on the hourly chart and still within the channel.
Downwards movement has unfolded as expected for Monday’s session.
Price was expected to fall for Friday, but it moved slightly higher.
The target at 1,279 was expected to be a little low. A trend line higher up was expected to halt upwards movement. However, this is not what has happened, and the trend line is overshot.
The main Elliott wave count is changed today.
A break below the channel and then below 1,260.03 has indicated the second hourly Elliott wave count was correct.
An upwards day was again expected as most likely, but this is not what happened. Price remains above the invalidation point on the main hourly chart, and has quickly returned to within the blue channel.
An upwards day was expected, but this is not what happened.
Two hourly Elliott wave counts are used today.