Price moved into the target zone, which was 1,197 to 1,192, and then turned upwards to print a green daily candlestick.
Sideways movement was expected. In the short term, some downwards movement within a consolidation was expected for the session, and this is what has happened.
Price has moved higher to complete a green daily candlestick, as expected for the main Elliott wave count, but so far it is concerning that volume has not supported this movement.
Price has moved sideways to complete a very small inside day. The analysis is essentially unchanged.
Upwards movement was expected for Tuesday’s session but did not happen.
Price moved lower but remains above the invalidation point.
A little more downwards movement was expected for Monday to a small target zone at 1,319 – 1,322.
The low for Monday is at 1,320.94, right in the target zone.
A little upwards movement was followed by some downwards movement, exactly as expected.
Yesterday’s analysis expected downwards movement.
Upwards movement confirmed the main Elliott wave count and invalidated the alternate.
I have three daily and hourly Elliott wave counts today.
Price continued lower, which is what the wave count expected while price remained within the channel.
Downwards movement was expected as most likely for yesterday’s main Elliott wave count.
Price has moved a little lower after a channel breach of the hourly chart. The long term Elliott wave targets remain the same.
Gold has broken out of a consolidation upwards exactly as expected.