Another very small range day moved price essentially sideways fitting the Elliott wave count for the short term.
Two hourly Elliott wave counts are provided to end the year, with the one daily Elliott wave count remaining the same.
Another downwards day remains within the range of recent movement. The short term Elliott wave structure at the hourly chart level is relabelled, and the Elliott wave target remains the same.
A downwards day remains within the small pattern forming.
Upwards movement was expected for the second hourly Elliott wave count.
A small inside day continues a small consolidation, which was what both the daily and two hourly Elliott wave counts expected.
The alternate hourly Elliott wave count will be discarded today.
Friday was expected to begin with some upwards movement, which is how the session began, but price did not move as high as was expected.
Overall, sideways movement was expected for a consolidation, which is what is happening.
A green daily candlestick has unfolded exactly as expected for Thursday’s session.
A breach of the channel on the hourly Elliott wave chart and a new low below 2,252.37 indicate a correction has begun.
Upwards movement was expected for Tuesday’s session.
Upwards movement was expected for Monday’s session. Price today has made a new all time high.