Price remains range bound again today. The longer price remains coiled between resistance and support, the closer and more violent the breakout will be.
Upwards movement continues as expected.
A very bearish alternate (which was judged to have a very low probability) has been invalidated today. This adds confidence to the main Elliott wave count and the targets.
Downwards movement was expected for Thursday’s session.
The target at 2,190 was met and exceeded so far by 2.56 points.
An inside day began with downwards movement, as expected, but the target was not reached.
A red long legged doji for today’s session indicates indecision, a balance between bulls and bears. This mostly fits expectations; this session was expected to produce a small red daily candlestick.
Upwards movement was expected for Friday’s session.
The session made a higher high and a higher low, but it closed with a red candlestick.
A small downwards day fits for both hourly Elliott wave counts.
Yesterday’s hourly Elliott wave count expected some upwards movement to end between 2,185.44 to 2,188.32, then downwards movement.
Price began the session with upwards movement and reached 1,287.66 before turning downwards exactly as expected.
Upwards movement was expected to a target at either 2,192 or 2,199.
The session began with a little upwards movement but only to 2,185.44 before turning down.
Upwards movement was again expected.