Upwards movement continues as expected and the target remains the same.
A small range downwards day closes as a doji. Targets remain the same. The Elliott wave count remains valid and price remains within a channel.
A small inside day fits both Elliott wave counts.
Elliott wave structure of the last upwards movement off December 2018 lows is used to analyse what is most likely to happen for the short to mid term.
Overall more downwards movement was expected from the new main Elliott wave count.
Price keeps falling towards the target on the alternate Elliott wave count, but it is not falling quickly or with strength.
Upwards movement completes a candlestick reversal pattern. This and volume indicate the Elliott wave counts should be swapped over today.
Upwards movement overall was expected to continue. This is what is happening.
The first Elliott wave count, which was slightly preferred, expected upwards movement for Tuesday’s session, which is what has happened.
Another new low indicated further downwards movement. The target is not yet met.
Three short-term Elliott wave counts are provided today.