Details: Looking for upside resumption as we have found support on Medium Level 150$ and we are now trading above previous resistance and we have broken it with increasing volume suggesting the move is trend establishing, rather than corrective.

PG Elliott Wave Analysis Trading Lounge 4Hr Chart, 9 February 24.

The Procter & Gamble Company, (PG) 4Hr Chart.

PG Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (i) of {iii}.

Direction: Upside into wave v of (i).

Details: Looking for continuation higher on the intraday as every pullback to the downside seems to be a three wave move and therefore corrective in nature. Looking for a top soon in what could be either wave (i) of {iii} or else wave {iii}.

Welcome to our PG Elliott Wave Analysis Trading Lounge, your trusted source for comprehensive insights into The Procter & Gamble Company (PG) through Elliott Wave Technical Analysis. As of the Daily Chart on 9th February 2024, we uncover pivotal trends guiding the market.

*PG Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we discern a dominant impulse function with a motive structure. The current position is in Minor wave 1 of (3), indicating acceleration in wave (3). Our focus is on the resumption of upside momentum, particularly as we find support at the Medium Level of $150. Notably, trading above previous resistance with increasing volume suggests a trend-establishing move rather than a corrective one.

*PG Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function remains impulsive with a motive structure. The present position is in Wave (i) of {iii}, signaling an upside movement into wave v of (i). We anticipate continued upward momentum intraday, especially as pullbacks to the downside manifest as three-wave moves, indicative of corrective nature. We remain vigilant for a potential top, which could signify either wave (i) of {iii} or wave {iii}.

Technical Analyst: Alessio Barretta.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD clings to small gains near 1.1750

Following a short-lasting correction in the early European session, EUR/USD regains its traction and clings to moderate gains at around 1.1750 on Monday. Nevertheless, the pair's volatility remains low, with investors awaiting this weeks key data releases from the US and the ECB policy announcements.

GBP/USD edges higher toward 1.3400 ahead of US data and BoE

GBP/USD reverses its direction and advances toward 1.3400 following a drop to the 1.3350 area earlier in the day. The US Dollar struggles to gather recovery momentum as markets await Tuesday's Nonfarm Payrolls data, while the Pound Sterling holds steady ahead of the BoE policy announcements later in the week.

Gold stuck around $4,300 as markets turn cautious

Gold loses its bullish momentum and retreats below $4,350 after testing this level earlier on Monday. XAU/USD, however, stays in positive territory as the US Dollar remains on the back foot on growing expectations for a dovish Fed policy outlook next year.

Solana consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout. On the institutional side, demand for spot Solana Exchange-Traded Funds remained firm, pushing total assets under management to nearly $1 billion since launch.

Big week ends with big doubts

The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.

PG Elliott Wave technical Analysis

PG Elliott Wave technical analysis

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025