The expected 2026 area support held up throughout the day. I don't know if this will be a temporary or mid-term support, but judging by today initial push down, the ST was at the verge of indicating a change. The rise up from today's low also did not indicate a 5 wave pattern clue to a possible new count higher as it closed the day with a 3 wave pattern. I can only speculate that if this 3 wave pattern indeed is it, then another sub-wave set lower would eventually play out to complete the corrective move to , or that this impulsive lower today did not fully show its intended count which could be a bearish i-ii, (i)-(ii) and (iii) next.
SEN: Bullish
ST: UP
PA: NA
Notice that the channel (Green Dotted Line) has been broken and price pulled back to test the trend line it just broke today. With the intra-charts still bearish, we should look for a distancing of the price lower away from the trend line next week. This however needs to be confirmed by the ST when it turns DOWN as well.
Possible EW count:
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