The short term target for some more upwards movement at 1,091 was reached and passed so far by 3.9.
A small inside day fits both hourly Elliott wave counts, which remain the same.
An upwards day was expected.
An upwards correction was expected to begin this week.
Monday is completing a green daily candlestick which fits the Elliott wave count perfectly.
The third hourly Elliott wave count is confirmed by a green daily candlestick.
Again, upwards movement was expected but did not happen.
Price moved slightly lower to make a new low just 1.2 below the prior day’s low and complete a small red doji.
Both Elliott wave counts had a short term target at 1,165 for a little upwards movement for Monday.
Price moved higher, reaching 1,169.15 before turning down for the session.
Upwards movement was expected by the bull Elliott wave count overall, but the pathway there was not what was expected.
Price still has not invalidated or confirmed either Elliott wave count.
Both Elliott wave counts expected overall downwards movement to begin the new week.
Yesterday’s analysis was unclear as to what direction to expect with three different Elliott wave counts with different expectations. A new low below 1,178.08 eliminated one Elliott wave count, now leaving only two which expect the same direction next.
Upwards movement was expected. The main Elliott wave counts remain the same, and a new bearish alternate will be added to daily analysis.
Lower highs and lower lows and volume continue to favour the bear Elliott wave count.
Upwards movement continued which fits the bullish alternate Elliott wave count. A new high above 1,210.88 indicated a third wave up may be underway.