ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG Elliott Wave Technical Analysis – TradingLounge

Greetings,

Today’s Elliott Wave technical outlook highlights developments in the Australian Stock Exchange (ASX), specifically analyzing INSURANCE AUSTRALIA GROUP LIMITED – IAG.

Current analysis indicates that ASX:IAG continues within a corrective wave pattern, with a potential for a minor decline before a probable upward price reaction.

ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG Elliott Wave Technical Analysis 1D Chart (Semilog Scale) Analysis

Function: Major trend (Primary degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave B - grey of Wave (4) - orange

Details:

Wave (4) - orange is developing lower after completing wave (3) - orange. The market may continue trending down, possibly aligning with the 38.2% Fibonacci retracement level. At this point, wave A - grey appears finalized, while wave B - grey moves slightly upward.

Invalidation Point: 7.40

ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG Elliott Wave Technical Analysis – TradingLounge 4-Hour Chart

Function: Major trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave ((c)) - navy of Wave B - grey

Details:

In the 4-hour chart view, wave B - grey is unfolding as a Flat correction, labeled as ((a))((b))((c)) - navy. Wave ((B)) - navy has recently ended, and wave ((c)) - navy is now advancing, potentially targeting between 8,063 and 8,271.

If the price falls below 7.400, it will likely indicate the beginning of wave C - grey, suggesting a bearish trend formation.

Invalidation Point: 7.400

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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Conclusion:

This Elliott Wave analysis delivers a focused outlook for ASX: INSURANCE AUSTRALIA GROUP LIMITED – IAG, emphasizing near-term price behavior and potential trading opportunities. The wave structure offers key validation zones for market participants, enabling a more confident and strategic trading approach based on technical wave forecasting.