Short term Elliott wave count suggests that decline to 386.6 ended wave ((w)). Rally from there is unfolding as a double three where wave (w) ended at 406.6 and wave (x) pullback ended at 396.6. Short term, while pullbacks stay above 402.6, and more importantly above 396.6, expect more upside towards 416.5 – 421.3 area to complete wave ((x)) and end cycle from 9/1 low (386.6). Afterwards, expect the instrument to resume decline to a new low or at least pullback in 3, 7, or 11 swing to correct cycle from 9/1 low.
At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer