ASX: CSL LIMITED – CSL Elliott Wave Technical Analysis TradingLounge (1D Chart)
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with CSL LIMITED – CSL. We observe that CSL may be advancing with wave ((iii)) - navy.
ASX: CSL LIMITED – CSL Elliott Wave Technical Analysis
ASX: CSL LIMITED – CSL 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (4) - orange of Wave ((3)) - navy of Wave iii - grey of Wave ((iii)) - navy
Details:
- Wave (4) - orange is set to push slightly lower, followed by wave (5) - orange potentially moving higher.
- Long Trade position remains profitable.
Invalidation point: 296.49
ASX: CSL LIMITED – CSL Elliott Wave Analysis TradingLounge (4-Hour Chart)
ASX: CSL LIMITED – CSL 4-Hour Chart Analysis
Function: Major trend (Minuette degree, orange)
Mode: Motive
Structure: Impulse
Position: Wave (4) - orange of Wave ((3)) - navy of Wave iii - gray of Wave ((iii)) - navy
Details:
- Wave (4) - orange initiated as an Expanded Flat, pushing lower but must remain above 296.49. Wave (5) - orange could then ascend.
- Long Trade position continues to be profitable.
Invalidation point: 296.49
Conclusion:
Our analysis, contextual trend forecast, and short-term outlook for ASX: CSL LIMITED – CSL aim to offer readers insights into the current market trends and effective ways to capitalize on them. We provide specific price points acting as validation or invalidation signals for our wave count, enhancing confidence in our perspective. Combining these factors, we strive to present the most objective and professional market trend analysis.
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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