Considering the stand-alone Impulse from 5548 upwards:
sw1=5548-5638=90
sw2=5638-5593=45
sw3=5593-5899=306
sw4=23.6% of sw3=5826
sw4=38.2% of sw3=5782
Last two days sideways movement has tested the ascending channel
but price-action has not satisfied the minimum requirement of sw4.
Global clues indicate a higher opening today and in that case ,last two day's price-action can only be labelled as a subwave of sw3 and sw4 or a deeper Corrective shall have to wait a little longer.
EOD post:
Gap up opening could not be sustained and by EOD a clear negative divergence became visible in Hour charts:
sw2=5638-5593=45
sw3=5593-5899=306
sw4=23.6% of sw3=5826
sw4=38.2% of sw3=5782
Last two days sideways movement has tested the ascending channel
but price-action has not satisfied the minimum requirement of sw4.
Global clues indicate a higher opening today and in that case ,last two day's price-action can only be labelled as a subwave of sw3 and sw4 or a deeper Corrective shall have to wait a little longer.
Gap up opening could not be sustained and by EOD a clear negative divergence became visible in Hour charts:
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