A little upwards movement was expected for Monday. Price fell 2.04 points short of the target on the main hourly Elliott wave chart before turning lower to print a red daily candlestick.
A red daily candlestick was expected for Wednesday’s session. Price has made a lower low and a lower high, the definition of downwards movement, but the candlestick has closed green after a rally at the end of the session.
Last analysis concluded the situation was unclear for the short term. A smaller range inside day mostly fits expectations. Upwards movement during Friday’s session remains well below the invalidation point on the hourly chart.
Price moved lower for the session, which was what was expected for the short term from the hourly Elliott wave count.
A slight new low changes the structure on the main hourly Elliott wave count. The new labelling has a better fit.
Upwards movement was expected but did not happen.
Price remains just above the invalidation point on the hourly wave count.
Downwards movement was expected as most likely for the session, but it was allowed that price could continue higher.
Price remains below the invalidation point.
Downwards movement unfolded as expected for Friday’s session.
A small inside day does not clarify the situation.
A little upwards movement was expected to begin the session but did not happen. Price moved lower as the larger trend expected.