In our analysis, we identify a trending function characterized by impulsive mode and motive structure. Positioned in Wave (3), our focus is on the upside movement in wave 1 of (3). While we're still trading below the all-time high (ATH), we anticipate encountering resistance as we approach the bottom of MG2 at $165.

PG Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (v) of {iii}.

Direction: Upside into wave (v).

Details: Looking for further upside into wave (v) as we could have completed wave i of (v). As mentioned, I’d expect 165$ to act as resistance, even if we have touched 1618 {iii} vs. {i} at 162$.

PG Elliott Wave technical analysis – Four-hour chart

Here, we also observe a trending function marked by impulsive mode and motive structure. Positioned in Wave (v) of {iii}, our attention is on the upside movement into wave (v). We anticipate further upward momentum, considering the possibility of completing wave i of (v). Despite touching $162, we expect $165 to serve as resistance, especially given its significance in the Elliott Wave framework.

The Procter & Gamble Company (PG) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

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

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