A small inside day sees the Elliott wave count remain the same.
Another upwards day fits expectations, but the technicals are a concern for the very short term.
An outside day fits both short term Elliott wave counts.
On Balance Volume should give a signal in one or two more sessions. This may add a little clarity to the short term expectations.
The main Elliott wave count expected upwards movement to begin the new trading week. The session began with a slight new low, and then price strongly rebounded to print a green candlestick with a very long lower wick.
Upwards movement continues as expected.
At least two different structures for this consolidation remain valid. The target remains the same.
Downwards movement towards the target continues exactly as expected.
Last analysis expected that a small bounce may have begun. A green daily candlestick today fits this expectation exactly.
Downwards movement has unfolded as expected.
Price remains within the channel on the hourly chart. This channel will continue to be very important.
Overall, downwards movement was expected for this week. This is now what is happening.
A channel may now be drawn on the hourly chart that may be useful for resistance.
Downwards movement continues as expected, which is choppy and overlapping, which was also expected.
A small inside day sees analysis unchanged. The Elliott wave counts remain the same and volume continues to favour the first hourly chart.
Overall, upwards movement was expected and so far continues with a slightly higher low for Monday. Pullbacks remain above the Elliott wave invalidation point.