ASX: ASX LIMITED – ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) ASX LIMITED – ASX . We see that ASX Limited has just completed wave ((ii))-navy, and wave ((iii))-navy is returning to push higher.ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis ASX: ASX LIMITED – ASX 1D Chart (Semilog Scale) AnalysisFunction: Major (Minor degree, gray)
Mode: Motive
Structure: Impulse
Position: Wave ((iii))-navy of Wave 3-grey
Details: Wave ((ii))-navy appears to have bottomed, and wave ((iii))-navy is unfolding to push higher, while price must remain above the 61.06 low to maintain this view. Invalidation point: 61.06
ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis TradingLounge (4-Hour Chart)ASX: ASX LIMITED – ASX Elliott Wave Technical Analysis ASX: ASX LIMITED – ASX 4-Hour Chart AnalysisFunction: Major Trend (Minute degree, navy)
Mode: Motive
Structure: Impulse
Position: Wave (i)-orange of Wave ((ii))-navy Details: Wave ((ii))-navy just ended at the low of 61.06. Now wave ((iii))-navy is opening to push higher, it is subdividing into wave (i)-orange, it has pushed quite high, so it will end soon, and wave (ii)-orange will open after that. Finally wave (iii)-orange will come back to push higher. I will watch ASX Limited for 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 readers with insights into the 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)More By This Author:Comprehensive Elliott Wave Analysis: Major Stock Indices Overview
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