The breakout from a consolidation zone has still not happened. The longer price coils between support and resistance, the more violent the breakout will be.
Sideways movement was again expected for Monday’s session. Price moved slowly higher in a small range, mostly fitting expectations.
Downwards movement was expected for Tuesday but did not happen.
Price has moved higher but remains below the invalidation point on the hourly Elliott wave count.
A small downwards day remains above the invalidation point on the main hourly Elliott wave count.
So far price continues to find support at the lower edge of the channel.