ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis (1D Chart)
Greetings, our Elliott Wave analysis today provides an update on the Australian Stock Exchange (ASX) ASX LIMITED – ASX. ASX Limited has just completed wave ((ii))-navy, and wave ((iii))-navy is set to push higher.
ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis
ASX: ASX LIMITED – ASX 1D Chart (Semilog Scale) Analysis
Function: Major (Minor degree, gray)
Mode: Motive
Structure: Impulse
Position: Wave ((iii))-navy of Wave 3-grey
Details: Wave ((ii))-navy has likely bottomed, and wave ((iii))-navy is unfolding to push higher. The price must stay above the 61.06 low to maintain this view.
Invalidation point: 61.06
ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis (4-Hour Chart)
ASX: ASX LIMITED – ASX 4-Hour Chart Analysis
Function: Major Trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (i)-orange of Wave ((iii))-navy
Details: Wave ((ii))-navy just ended at the low of 61.06. Now wave ((iii))-navy is opening to push higher, subdividing into wave (i)-orange. This wave has risen significantly, so it will end soon, and wave (ii)-orange will begin. Following that, wave (iii)-orange will push higher. I will monitor ASX Limited for a Long Trade Setup.
Invalidation point: 61.06
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASX LIMITED – ASX aim to provide insights into current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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