Last analysis looked for the arrival of a second wave correction. The correction was indicated when the channel on the hourly chart was breached. The correction is most likely incomplete. I am now expecting price to move higher to a short term target at 101.76 to 102.21 before a resumption of the downwards trend.Click on charts to enlarge.The daily chart […]
Last week’s analysis expected an end to a fourth wave correction within one or two days, to be followed by more downwards movement for a fifth wave.There is now a clear five down on the daily chart. Upwards movement has breached a channel containing this impulse, and a second wave correction has begun.Click on the charts below to enlarge.The bigger […]
Last week movement below 20.512 invalidated the main wave count and confirmed the alternate. At that stage the analysis for the alternate wave count expected a continuation of downwards movement. I have just the one wave count for you this week.Click on the charts below to enlarge.Minor wave B is an incomplete zigzag.Within minor wave B minute wave a subdivides […]
