Upwards movement for the week leaves three Elliott wave counts valid.
Upwards movement continued as both Elliott wave counts expected. Targets remain the same.
Both Elliott wave counts have targets which expect more upwards movement. A small range inside day does not change the expectation.
A strong downwards day has push from volume, but price remains above support. All three Elliott wave counts remain valid.
The first target at 1,452 was almost met this week with a high at 1,450.65.
Downwards movement was expected to end within a very few hours after last analysis was published and thereafter to be followed by an upwards breakout. Today price has closed above the upper edge of the pennant pattern, but a lack of support from volume so far is suspicious.
A small range day remains just below the last high. All Elliott wave counts remain valid.
A little more downwards movement leaves both Elliott wave counts valid.
All three Elliott wave counts remain valid and two short-term scenarios are considered for members today on hourly charts. Overall, all three Elliott wave counts expect the same direction next but targets differ.
A strong downwards day indicates the alternate triangle Elliott wave count may be more likely than the main, which differs only for a short-term outlook. The wave counts are switched over today.
A small consolidation or pullback was expected to begin within this upwards movement. Today that may have arrived, as the short-term expectation for yesterday’s hourly chart anticipated.