A small range day leaves the main Elliott wave count unchanged.
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.
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.
Price keeps falling towards the target on the alternate Elliott wave count, but it is not falling quickly or with strength.
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.
It was expected for Friday that price may move lower, which is what happened.
Identified support at the last gap remains open today, but only just. A clear price point is given to members, which will indicate a change from bull to bear if it is passed.
Downwards movement continued for Monday exactly as was expected for the short term from last Friday’s analysis.