Upwards movement continued throughout this week as expected.
Upwards movement continues towards the small 2 point target zone, which remains the same. The target is calculated using Elliott wave and Fibonacci ratios, and from the last open gap.
Another very small range day makes a very slight new high but closes red. Price is moving sideways, which is what the Elliott wave count expected for the short term.
The next target was at 3,179 (members were warned it may be too low). Upwards movement continued as expected for Friday reaching 3,182.68.
A small range upwards day continues an expected consolidation.
A very small range inside day leaves the Elliott wave count unchanged.
A more time consuming correction was expected to have begun after yesterday’s downwards movement. Downwards movement was expected to continue although it has reached below expected support at 3,081.
Price continues to move higher towards the target with brief and shallow corrections, exactly as expected.
A small channel on the hourly chart today may be used to indicate when the next correction may have arrived.
The upwards trend continues as the Elliott wave count expects.
Members have been advised to expect corrections at this time to be relatively brief and shallow, which is exactly how the market is behaving.