A small bounce within the week remained below the invalidation point and within the channel. Thereafter, downwards movement continued as expected.
Another small range day continues sideways movement as a pennant pattern unfolds. The target calculated using the flag pole length remains the same.
A small range inside day continues a possible pennant pattern. The target calculated from the flag pole remains the same.
Price continues to be range bound. A reliable continuation pattern, a pennant, may be forming. The flag pole is used to calculate a target.
To start the new week downwards movement was expected for both bullish and bearish Elliott wave counts.
Last analysis expected more upwards movement this week for both Elliott wave counts. This is what has happened.
Upwards movement for the week leaves three Elliott wave counts valid.
Downwards movement has again continued as both Elliott wave counts expected for this week.
A small range day has not managed to make a new high. Declining ATR and light volume still suggest some consolidation may unfold here.