A new low below 2,371.54 invalidated the hourly Elliott wave count and indicated a pullback has likely arrived.
A short term pullback was expected. Another small inside day completes a small red doji.
Upwards movement unfolded for the session exactly as expected, ending almost at the target which was at 2,038.15.
Downwards movement was again expected for the session and again failed to materialise.
No confirmation of a trend change has been indicated yet either, so it was allowed that price could move a little higher.
Friday’s analysis came with the warning that the session may print a green daily candlestick, which is what happened.
Upwards movement was expected for the short term from both hourly Elliott wave counts.
Downwards movement was expected but did not happen.
A new alternate Elliott wave count is published with this analysis.
Downwards movement was expected for Wednesday’s session, but it did not happen.
Price moved sideways and then ended with upwards movement.
Downwards movement is unfolding so far exactly as expected.
Downwards movement was expected as most likely, which is what happened.